[FoRK] too big to jail

Ken Ganshirt @ Yahoo ken_ganshirt at yahoo.ca
Mon Dec 17 19:13:10 PST 2012


As with most situations where large corporations are fined for some sort of intentional breach of laws or regulations it's simply the cost of doing business.  The license fee, if you will.  

No individual was personally affected by this.  So we should expect nobody to take it personally.  

The [predictable] next step for the humans at HSBC will be to figure out how to implement the "oversight" so that it will be mostly blind.  And then figure out how to maximize the profit from those blind spots. 

           ...ken...



--- On Mon, 12/17/12, John Parsons <bullwinklemouth at yahoo.ca> wrote:

> > >From the article:
> > "Despite the size of the fine, HSBC's shares on the London 
> > stock exchange rose by 2.8p to 644p. Last month HSBC announced
> > third-quarter pre-tax profits to $3.5bn (£2.2bn)."
> 
> For 'justice' to appear as such, the outcome should be fully
> compensatory and/or adequately suppressive of future such
> behavior. I doubt either has taken place.
> 
> JP
> 
> 
> --- On Mon, 12/17/12, Eugen Leitl <eugen at leitl.org>
> wrote:
> 
> 
> Historical times.
> 
> http://www.guardian.co.uk/business/2012/dec/11/hsbc-fine-prosecution-money-laundering
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