HSBC Laundering Charges

  • Aired:  01/16/13
  •  | Views: 19,611

Just to show how sorry they are for funding murder, HSBC decides to partially defer bonus compensation for senior officials. (3:09)

ANYMORE.

NOW CAN I BE ANGRY AGAIN AND THAT MAKES ME SO HAPPY.

WHO KNOW WHO I'M MOST HAPPY TO BE ANGRY AT, FOLKS?

THE PEOPLE ANGRY AT OUR BANKS.

I'M NOT THE ONLY ONE WHO FEELS THIS WAY.

>> EVERYONE GOES THE EVIL BANKS.

IT'S TIME TO STOP DEMONIZING BANKS.

>> Stephen: YES, STOP DEMONIZING THE BANKS.

THEY'VE NOT DESTROYED THE WORLD'S ECONOMY FOR OVER FOUR YEARS.

THE ATTACKS KEEP COMING.

HSBC TARGETED BAY JUSTICE DEPARTMENT WITCH HUNT OVER A FEW MINOR INFRACTIONS.

>> HSBC ADMITTED TODAY THAT IT COVERED UP ILLEGAL TRANSACTIONS FOR BURMA, IRAN, SUDAN, CUBA AND LIBYA.

THOSE NATIONS WERE UNDER BANKING SANCTIONS BECAUSE OF HUMAN RIGHTS ATROCITIES, TERRORISM OR

IN IRAN'S CASE, A NUCLEAR PROGRAM.

>> Stephen: BIG DEAL.

[ LAUGHTER ]

IT'S NOT LIKE HSBC WAS THE ONE ENRICHING PLUTONIUM, THEY WERE JUST ENRICHING THEMSELVES.

THERE'S JUST ONE OTHER THING.

>> IT LAUNDERED MORE THAN $800 MILLION FOR MEXICAN DRUG CARTELS.

>> HUNDREDS OF THOUSANDS OF U.S.

DOLLARS DAILY DEPOSITED TO HSBC MEXICO USING BOXES SPECIALLY MADE TO FIT THROUGH TELLERS

WINDOWS TO SPEED TRANSACTIONS.

>> Stephen: OKAY, BUT HOW WAS HSBC SUPPOSED TO KNOW THE BIG SPECIALLY MADE BOXES THE CARTELS

WERE DROPPING OFF WERE FULL OF DRUG MONEY?

THEY COULD HAVE JUST AS EASILY BEEN FILLED WITH HUMAN HEADS.

[ LAUGHTER ]

TURNS OUT IT WAS DRUG MONEY AND ONCE THEY WERE CAUGHT, HSBC WAS SLAMMED WITH A $1.9 BILLION FINE.

$1.9 BILLION DOLLARS.

DO YOU HAVE ANY IDEA HOW LONG IT WOULD TAKE THEM TO EARN THAT BACK?

FOUR WEEKS.

[ LAUGHTER ]

I MEAN, YOU COULD TAKE THE SPECIAL K CHALLENGE TWICE!

[ LAUGHTER ]

FOLKS, JUST TO SHOW -- JUST SO SHOW HOW SORRY THEY ARE FOR FUNDING MURDER, HSBC HAS DECIDED

TO PARTIALLY DEFER BONUS COMPENSATION FOR SENIOR OFFICIALS.

OKAY?

PARTIALLY DEFERRING THEIR BONUSES.

I THINK THAT REALLY DEMONSTRATES THEIR PARTIAL HUMANITY.

[ LAUGHTER ]

I DID NOT KNOW THIS BUT SOMETIMES WHEN PEOPLE LAUNDER MONEY FOR DRUG CARTELS, THEY GO

TO JAIL.

BUT THE OBAMA ADMINISTRATION ISN'T GOING TO DO THAT BECAUSE AS ASSISTANT ATTORNEY GENERAL

BREWER SAID HSBC WOULD ALMOST CERTAINLY HAVE LOST ITS BANKING LICENSE AND THE ENTIRE BANKING

SYSTEM WOULD HAVE BEEN DESTABILIZING.

THAT WOULD BE LIKE THROWING THE BABY OUT WITH THE BATH WATER.

INCIDENTALLY IT'S YET TO BE PROVEN THAT HSBC PROFITED IN ANY WAY FROM BLACK

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