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by ForHackernews 2769 days ago
It worked out fine for HSBC. AFAIK, nobody there went to jail for being the personal bankers to Mexican cartels.

https://www.reuters.com/article/us-hsbc-probe/hsbc-became-ba...
2 comments
yasp 2768 days ago
Worked out fine for Citigroup as well.

https://www.bloomberg.com/news/articles/2018-11-16/gett-is-s...

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jondubois 2768 days ago
It worked out fine for all the people who sold toxic assets for a profit leading up to the 2008 crisis.

The government has already made its stance clear. Crime is OK if it's done in a complex way.

They just need to formalize it into a law that way citizens are aware of the complexity threshold that is required for a crime to be legal.

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pathseeker 2768 days ago
Well not fine from a business perspective. The fines were larger than the money made from such activities. If HSBC were primarily a front for the cartels, it would have gone bankrupt.
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