By: the man of twists and turns
DOJ Refuses to Indict HSBC For Money Laundering Explicitly Because It is Too Big To Fail
View ArticleBy: homunculus
Jon Stewart Tears Into 'Disgraced Financial Institutions' For Leading The World 'To The Brink Of Armageddon'
View ArticleBy: the man of twists and turns
Why It is Essential That Criminal Bankers are Prosecuted There is a growing groundswell of informed opinion among modern commentators and even some politicians that financial regulators should be far...
View ArticleBy: briank
An Open Letter to David Cameron, the Prime Minister of the United Kingdom of Great Britain and Northern Ireland, from Mrs N TurnerMr Cameron, unless I am completely mistaken, Mr Bailey seems to be...
View ArticleBy: Shit Parade
A white house petition has started. I find the language rather shrill, here's a different one, it is marginally better. What's sad is even engaging in this behavior -- petitioning the white house --...
View ArticleBy: lupus_yonderboy
He's a joke. He doesn't understand the law, or finance. [etc.] If you have a rebuttal of their articles or more information, lay it on us. These repeated ad hominem attacks are, as I said above,...
View ArticleBy: Smedleyman
The hard part is proving any one individual responsible for the crime. And what is being fought here is the way in which the crime is committed. It's not as straightforward as an individual crime....
View ArticleBy: EmpressCallipygos
we don't know what the evidence looked like. And the reason we don't know what the evidence looked like is because HSBC paid the US government off to drop the case.
View ArticleBy: lupus_yonderboy
> The hard part is proving any one individual responsible for the crime. Not at all. Under Sarbannes-Oxley, for example, you do not have to prove that upper management knew what was going on. It is...
View ArticleBy: Smedleyman
lupus_yonderboy you're talking courts. I'm talking enforcement. If I craft a perfect violin, it doesn't mean a thing if it's not played. It is their responsibility to find out - and they can be charged...
View ArticleBy: bert2368
Screw the legal/ethical hair splitting. These bankers were doing the bidding of US intelligence services, who have been in on the ground floor of both international narcotics movement and "terrorism"....
View ArticleBy: vidur
This is what StanChart did: Standard Chartered moved more than $200m through the US financial system primarily on behalf of Iranian and Sudanese clients by removing information that would have revealed...
View ArticleBy: JackFlash
IamBroom: Some good (but not great) news from TFA. In regard to bonuses, the rumour is that the deal will provide that the HSBC's top executives are to defer a portion of any bonuses that they are...
View ArticleBy: JackFlash
And it is just a "partial" deferral. Apparently they get to collect some of their bonuses right away. The rest will be put away for them to collect in five years. Please don't throw me in that briar...
View ArticleBy: Ad hominem
Soxley for a CEO to go to jail over an inadvertent mistake committed by an underlying, if that mistake is gross enough, though it hasn't happened to the best of my knowledge. You sure about that? I'm...
View ArticleBy: lupus_yonderboy
> I'm pretty sure SOX applies to financial reporting, not random mistakes or even criminal activities committed by a random employee. You're quite right that it's only applicable to financial...
View ArticleBy: Ad hominem
criminally liable for errors in reporting if they were gross enough, even if the errors were inadvertent. Ok, yeah. There are criminal and civil penalties. Part of SOX is that there must be internal...
View ArticleBy: Shit Parade
God people are idiots. Officials are on record stating they did not pursue criminal charges because it might damage the world financial economy. No wonder this happens it's hard not to have a contempt...
View ArticleBy: lupus_yonderboy
Soxley is by no means the only body of applicable laws where senior management can been held legally liable for criminal actions taken by their subordinates without having to actually prove knowledge....
View ArticleBy: lupus_yonderboy
And look at this - I'd forgotten that my old firm, Drexel Burham Lambert, got RICO'ed, and got out of it by pleading no contest: "If the bond ever had to be paid, its shareholders would have been...
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