Daily Archives: December 17, 2012

Did Obama and Cameron require HSBC to aid the prosecution of Tax Frauds?

By William K. Black
(Cross posted at Benzinga.com)

I have explained in prior columns that HSBC is not only a criminal enterprise, but also a recidivist of epic proportions.  The U.S. and the U.K. have refused to prosecute not only HSBC, but even its officers who directed the frauds and covered them up from the U.S. government.  The U.S. Department of Justice (DOJ) claimed that one of the reasons it failed to prosecute was that HSBC gave it “immediate, full cooperation.” Continue reading

The Second Great Betrayal: Obama and Cameron Decide that Banks are above the Law

By William K. Black

One of the “tells” that reveals how embarrassed Lanny Breuer (head of the Criminal Division) and Eric Holder (AG) are by the disgraceful refusal to prosecute HSBC and its officers for their tens of thousands of felonies are the false and misleading statements made by the Department of Justice (DOJ) about the settlement.  The same pattern has been demonstrated by other writers in the case of the false and disingenuous statistics DOJ has trumpeted to attempt to disguise the abject failure of their efforts to prosecute the elite officers who directed the “epidemic” (FBI 2004) of mortgage fraud.

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