Wednesday, December 12, 2012

A Death Sentence?

That's what the NY Times says would happen to HSBC from an indictment of the bank for money laundering because it "could cut off the bank from certain investors like pension funds and ultimately cost it its charter to operate in the United States" and eventually cause the bank to die.

I'm not a lawyer, but the word "could" does not mean "would".  Since people working for the bank actually committed the crimes, why can't the people be charged?  It just seems that the people who run banks can get away with anything as long as they are willing to spend the bank's assets paying fines.

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