A U.S. Congressional report, entitled “Too Big to Jail: Inside the Obama Justice Department’s Decision Not to Hold Wall Street Accountable,” found officials in the U.K. applied the economic threat warning of “market turmoil” to ensure HSBC wouldn’t be subject to prosecution for rather serious allegations. Among a multitude of other findings,
US Refuses To Charge HSBC Because It Could Hurt The Financial System
As it turns out, the rumors were true — HSBC escaped prosecution for money laundering because the behemoth bank was “too big to jail.”
