Big Bank Laundering

http://dealbook.nytimes.com/2012/12/10/hsbc-said-to-near-1-9-billion-settlement-over-money-laundering/

Once again big banks get caught red handed and no CEO gets convicted. I am sure these honest bankers were unaware that money was being laundered from Iran and from the mexican cartels. I am sure by them saying they will be more vigilant that this will never happen again, they will do so. How come no one is ever held accountable when these mistakes happen? 1.9 bil in fines 1.3 bil in damages, .6 bil in actual fines. .6 bil is barley an itch on the balls for these guys. These cartels have so much money they can by anyone off to get what they want.

Peace
Salt

how much should the investors of the bank be fined? did those investors deliberately invest in a money laundering scheme or did they count on banking regulations to keep the shitballs out of the big money vault?

fining a company really only fines the investors, the only solution is serious hard buttslammin prison time for white collaar crime, maaybe give some blue collar crininals aa turn at the lompoc club fed, while bernie madoff and leona helsmley spend a few years in San Quentin getting their poopshoots upsized to a generous 15 Extra Wide (euro 45).

I think Goldman Sachs and Bank of America have been fined Billions of $$$ for stealing Trillions of $$ from people. Its a great trade off for them, they don't admit to wrongdoing and the regulators slap them with fines totaling 7% of total that they stole. They keep the loot.

This has happened so many times that the banks blatantly do it now, secure in knowing that no important person will go to prison and they will get to keep the ill gotten gains.

You know that $8.3 Billion glitch of Goldman Sachs that fucked things up and caused the $200 Billion of customer funds in the MF Global scandal to disappear?
The fine for that will take Goldman 24 minutes to pay it off. GS makes $1.5 million every 24 minutes. Yep, a fine of $1.5 million for the loss of over $200 Billion in Customer allocated segregated accounts, just went Poof. HAHAHAHAHAHHA the bankers run this thing people. Can you imagine if a President decided that he was going to give his wife a present of $200 Billion. Think there would be outrage? Of course, but when a banker does it the process is so complicated to most and the Jargon used is so meaningless to most that it goes right over their heads and they don't understand what happened so they don't say anything for fear of looking foolish. They demand government do something about it, so it does and the amount fined seems like a large some to many and people forget all about it.

I heard the mexican cartel knew the size of the square opening at the banks window in mexico and would slide through a box full of money perfect in size. My thing is why would cartels be sending mass amounts of money to the US? Shouldn't it be the opposite? Make the money here and send it out?

Peace
Salt

Saltrock said:

I heard the mexican cartel knew the size of the square opening at the banks window in mexico and would slide through a box full of money perfect in size. My thing is why would cartels be sending mass amounts of money to the US? Shouldn't it be the opposite? Make the money here and send it out?

Peace
Salt

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it's money laundering, not money movement. since international banking regulations allow any nation that finds dirty money to simply TAKE IT, they have to clean it up, and the fastest place to clean money up and make it look legit is the place that moves money around the fastest, and thats the US.

they move the money back to the US, pass it through a business that deals moslty in cash (casinos, off track betting, laundromats, restaurants, etc...) and then extract the money with a nice tidy papertrail hanging off the back end. fuck, they usually even pay taxes on it. 25% capital gains is cheaper than 100% seized by the DEA DOJ or intepol.

NoDrama said:

You know that $8.3 Billion glitch of Goldman Sachs that fucked things up and caused the $200 Billion of customer funds in the MF Global scandal to disappear?

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Sorry NoDrama. That is completely false. The number was around 1.6bil and goldman had nothing to do with the loss taken by customers.

Johnny Retro said:

Sorry NoDrama. That is completely false. The number was around 1.6bil and goldman had nothing to do with the loss taken by customers.

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$8.3 billion
http://www.businessinsider.com/cftc...yee-hid-a-83-billion-trading-position-2012-12

GS Former Chairman John Corzine lost $1.2 Billion, which I was off quite a bit. I was probably thinking about the LIBOR Scandal when I wrote it. http://abcnews.go.com/blogs/politics/2011/12/corzine-at-a-loss-to-explain-missing-1-2b/

MF Global link http://www.reuters.com/article/2012/11/27/us-mfglobal-subpoena-idUSBRE8AQ04A20121127

My numbers are off on the loss at MF global, but its all related. Derivatives are a muther.