We got something that looks suspiciously like accountability today in a Senate Permanent Subcommittee on Investigations hearing. Earlier today I previewed this hearing, based on a damning report detailing House Senate Banking Committee's propensity to allow money laundering to occur on its watch on a mass scale.
The report showed pretty clearly that HSBC enabled Mexican drug lords and terrorist financiers to gain access to the sophisticated US finance system, created all sorts of ways for tax dodgers and seedy individuals to avoid anti-money laundering statutes, and concealed numerous violations of prohibitions against doing business with Iran.
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Yesterday JPMorgan, today Goldman (again) and Deutsche Bank. Following the completion of a two-year report by the Senate Permanent Subcommittee of Investigations into the role of Goldman and other banks in the housing collapse, the ... Read Post
Just because there is already an overflow of confidence in the financial system, here comes the Senate's Permanent Subcommittee On Investigations with a 340 page report detailing how HSBC "exposed the U.S. financial system to a wide... Read Post
HSBC bank officials are testifying before the Senate Homeland Security and Governmental Affairs Subcommittee on Permanent Investigations this morning following a bombshell senate report that alleges the bank has fostered links to te... Read Post