Too Big to Run an Honest Business.

[evildevil]

Why Do Big Banks Launder Money?Four major banks have been fined billions of dollars for laundering illicit funds in the last year. Is it worth it for the creditors? Crime novelist Chris Morgan Jones says ignoring the so-called dark economy would be like refusing to do business with Spain

Comments

[1trackmind]

From Matt Taibbi's blog:

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."

Yeah. I think the bankers knew.

[romp]

Interesting. I find I now side-eye HSBC when I see its logo. But I suppose itès too much to hope they'll all suffer bad PR from this.

sorry to be that person

[chiquita101]

colOmbia.
colOmbia.

not columbia.

other than that very good read.