Loading...

Matt Taibbi: After Laundering $800 Million in Drug Money, How Did HSBC Execs Avoid Jail?

21,747 views

Loading...

Loading...

Transcript

The interactive transcript could not be loaded.

Loading...

Loading...

Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Published on Dec 13, 2012

DemocracyNow.org - The banking giant HSBC has escaped indictment for laundering billions of dollars for Mexican drug cartels and groups linked to al-Qaeda. Despite evidence of wrongdoing, the U.S. Department of Justice has allowed the bank to avoid prosecution and pay a $1.9 billion fine. No top HSBC officials will face charges, either. We're joined by Rolling Stone Contributing Editor Matt Taibbi, author of "Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History." "You can do real time in jail in America for all kinds of ridiculous offenses," Taibbi says. "Here we have a bank that laundered $800 million dollars of drug money and they can't find a way to put anybody in jail for that? That sends an incredible message, not just to the financial sector, but to everybody. It's an obvious, clear double standard where one set of people gets to break the rules as much as they want and another set of people can't break any rules at all without going to jail."

To watch the entire weekday independent news hour, read the transcript, download the podcast, search our vast archive, or to find more information about Democracy Now! and Amy Goodman, visit http://www.democracynow.org.

Democracy Now!, an independent global news hour that airs weekdays on 1,100+ TV and radio stations Monday through Friday.

FOLLOW DEMOCRACY NOW! ONLINE:
Facebook: http://www.facebook.com/democracynow
Twitter: @democracynow
Subscribe on YouTube: http://www.youtube.com/democracynow
Listen on SoundCloud: http://www.soundcloud.com/democracynow
Daily Email News Digest: http://www.democracynow.org/subscribe

Please consider supporting independent media by making a donation to Democracy Now! today, visit http://www.democracynow.org/donate/YT

Loading...

to add this to Watch Later

Add to

Loading playlists...