HSBC should be criminally prosecuted. So should its responsible officers and board members.
The report and follow-up hearings have shown that the bank has knowingly violated many criminal laws. Individuals convicted of similar violations are now in jail — with sentences of up to 40 years. The only case that comes close to matching the range of crimes that HSBC committed is the Bank of Credit and Commerce International — the “bank of crooks and criminals,” which I investigated back in the late 1980s. It was closed and its leadership was prosecuted. HSBC deserves the same treatment.
Read more: http://www.politico.com/news/stories/0712/79224.html#ixzz22FvGbJp4
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