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December 17, 2012 08:31 pm PST

If you're suspected of drug involvement, America takes your house; HSBC admits to laundering cartel billions, loses five weeks' income and execs have to partially defer bonuses

Rolling Stone's Matt Taibbi is brilliantly incandescent in his column about the HSBC drug-money-laundering settlement with the US government. HSBC was an active, knowing participant in laundering billions in drug money, and was fined a small percentage of its net worth (five weeks' income). Meanwhile, private individuals who are suspected of being incidentally involved in [...]


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