Date(s) - 03/04/2013
11:45 am - 1:30 pm
Category(ies) No Categories
OUR MESSAGE ON MARCH 4TH IS THIS: Break up the megabanks! Revoke HSBC’s US banking license
If they get into trouble, they hold the economy hostage to avoid prosecution. This was just illustrated most dramatically when HSBC and other banks got away with facilitating money-laundering by drug dealers, terrorist and Iran among others. Even though HSBC confessed to these heinous acts, they were not prosecuted for fear of “horrible consequences” to the economy.
But this is just the latest case. Another example of flagrant criminal activity was the “Robosigning scandal”. Megabanks including Bank of America, JPMorgan Chase and HSBC were caught committing massive fraud in their rush to foreclose on underwater borrowers. Here too, there were no criminal prosecutions, just a slap on the wrist and a promise by the banks to behave better in the future. A promise they have already broken.
OWS Alternative Banking Group