Outrageous HSBC Settlement Proves the Drug War is a Joke


  If you’ve ever been arrested on a drug charge, if you’ve ever spent even a day in jail for having a stem of marijuana in your pocket or “drug paraphernalia” in your gym bag, Assistant Attorney General and longtime Bill Clinton pal Lanny Breuer has a message for you: Bite me.
  
  Breuer this week signed off on a settlement deal with the British banking giant HSBC that is the ultimate insult to every ordinary person who’s ever had his life altered by a narcotics charge. Despite the fact that HSBC admitted to laundering billions of dollars for Colombian and Mexican drug cartels (among others) and violating a host of important banking laws (from the Bank Secrecy Act to the Trading With the Enemy Act), Breuer and his Justice Department elected not to pursue criminal prosecutions of the bank, opting instead for a “record” financial settlement of $1.9 billion, which as one analyst noted is about five weeks of income for the bank.
  
  The banks’ laundering transactions were so brazen that the NSA probably could have spotted them from space. Breuer admitted that drug dealers would sometimes come to HSBC’s Mexican branches and “deposit hundreds of thousands of dollars in cash, in a single day, into a single account, using boxes designed to fit the precise dimensions of the teller windows.”
  
  This bears repeating: in order to more efficiently move as much illegal money as possible into the “legitimate” banking institution HSBC, drug dealers specifically designed boxes to fit through the bank’s teller windows. Tony Montana’s henchmen marching dufflebags of cash into the fictional “American City Bank” in Miami was actually more subtle than what the cartels were doing when they washed their cash through one of Britain’s most storied financial institutions.

Outrageous HSBC Settlement Proves the Drug War is a Joke

If you’ve ever been arrested on a drug charge, if you’ve ever spent even a day in jail for having a stem of marijuana in your pocket or “drug paraphernalia” in your gym bag, Assistant Attorney General and longtime Bill Clinton pal Lanny Breuer has a message for you: Bite me.

Breuer this week signed off on a settlement deal with the British banking giant HSBC that is the ultimate insult to every ordinary person who’s ever had his life altered by a narcotics charge. Despite the fact that HSBC admitted to laundering billions of dollars for Colombian and Mexican drug cartels (among others) and violating a host of important banking laws (from the Bank Secrecy Act to the Trading With the Enemy Act), Breuer and his Justice Department elected not to pursue criminal prosecutions of the bank, opting instead for a “record” financial settlement of $1.9 billion, which as one analyst noted is about five weeks of income for the bank.

The banks’ laundering transactions were so brazen that the NSA probably could have spotted them from space. Breuer admitted that drug dealers would sometimes come to HSBC’s Mexican branches and “deposit hundreds of thousands of dollars in cash, in a single day, into a single account, using boxes designed to fit the precise dimensions of the teller windows.”

This bears repeating: in order to more efficiently move as much illegal money as possible into the “legitimate” banking institution HSBC, drug dealers specifically designed boxes to fit through the bank’s teller windows. Tony Montana’s henchmen marching dufflebags of cash into the fictional “American City Bank” in Miami was actually more subtle than what the cartels were doing when they washed their cash through one of Britain’s most storied financial institutions.

  1. iwillsimplyresume reblogged this from sociolab
  2. blissy-leaves reblogged this from sociolab
  3. terminalimpacts reblogged this from luckyjimjd
  4. luckyjimjd reblogged this from hoomie
  5. rottenkiwi reblogged this from femmeviva
  6. rustedkitsune reblogged this from sociolab
  7. bematthe reblogged this from sociolab
  8. bvrnthebitchdown reblogged this from hoomie
  9. hoomie reblogged this from femmeviva
  10. femmeviva reblogged this from sociolab
  11. sociolab reblogged this from gangelband
  12. jjarichardson reblogged this from afro-dominicano
  13. tairngir reblogged this from michaelalbini
  14. gentlemanofleisuree reblogged this from koool-beans
  15. deranged-psychonaut reblogged this from koool-beans
  16. koool-beans reblogged this from afro-dominicano
  17. mind-dvze reblogged this from afro-dominicano
  18. marioduringweekend reblogged this from afro-dominicano and added:
    And all the people killed…
  19. conductorebrio reblogged this from mylifeimmortalized
  20. mylifeimmortalized reblogged this from afro-dominicano and added:
    THIS SHIT MAKES ME SO ANGRY
  21. camiloperdomo reblogged this from sadnessfactory
  22. eyekilluminati reblogged this from drugpolicyreform
  23. kingdom-of-shamballa reblogged this from afro-dominicano
  24. nearthegreatwidesomewhere reblogged this from gangelband
  25. knivesandcoffee reblogged this from afro-dominicano and added:
    Agggghhh… Wake up people.
  26. slykangaroo reblogged this from afro-dominicano
  27. snarkengaged reblogged this from afro-dominicano