John Cruz, a former HSBC (global Swiss Bank) Senior Vice President for Relationship Management has charged Obama’s Department of Justice under Eric Holder as handing them a virtual “slap on the wrist” for being a criminal enterprise. HSBC agreed to pay a fine of $1.92 billion dollars for money laundering profits from Mexican and Columbian drug cartels, which is the least offensive crime they commit on an ongoing basis, to end the matter and DOJ involvement.
A Senate hearing on this matter was held last week in what has become standard operating procedure (SOP) for the Obama administration on the corruption of the “Rule of Law.”
In effect, Mr. Holder believes that some “banks” are too big to prosecute for illegal and criminal activity, as it will cause irreparable harm to the national and world economy. It makes no difference that this action gives tacit approval to the financing of global terrorism or drug cartel efforts to spread their poison onto our streets (and allows the American people to pay a heavy price for this lawlessness in increased criminal activity.) Chicago’s horrendous murder rate comes to mind as just one consequence…culminating in over 510 homicides in Chicago last year alone, with a majority fueled by the illegal drug trade.
The following excerpts are from Eric Holder’s revealing testimony before the Judiciary Committee as relayed in an article from WND (video of John Cruz, parts 1 and 2, at the end of the article is worth watching):
“Banks the size of HSBC are “too big to jail,” as a member of the Senate panel put it.
“I am concerned that the size of some of these institutions becomes so large,” the attorney general confessed, “that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy.
“And I think that is a function of the fact that some of these institutions have become too large,” said Holder.”
Holder’s later testimony showed the callous indifference to the workings of a criminal enterprise that has engaged in money laundering, financing of terrorism, and outright fraud. A criminal enterprise that is masquerading as a legitimate bank that can affect the entire world’s economy is in desperate need of investigation and prosecution as relayed by Sen. Grassley:
Sen. Charles Grassley, R-Iowa, asked Holder to explain why federal and state authorities decided not to indict HSBC after it admitted funneling cash to Mexican drug cartels, helping rogue regimes avoid sanctions and assisting Saudi banks tied to terrorism.
The senator said, “I’m concerned that we have a mentality of too-big-to-jail in the financial sector of spreading from fraud cases to terrorist financing and money laundering cases – and I cite HSBC.”
Holder replied: “The concern that you have raised is one that I, frankly, share.”
However, Holder said he was not specifically referring to HSBC, because it would not be “appropriate.”
“Again, I’m not talking about HSBC,” he said. “This is just a – a more general comment. I think it has an inhibiting influence – impact on our ability to bring resolutions that I think would be more appropriate. And I think that is something that we – you all need to – need to consider. So the concern that you raised is actually one that I share.”
Obama and Mr. Holder have a specific duty in Article II, Sec. III of the Constitution to simply “take care that the laws be faithfully executed.” The prosecutorial discretion of the Obama administration makes it more of a regime than a legitimate government. These men shame their offices by the selective enforcement of laws and entities that share their collective political goals. The decision to allow a civil penalty to stand in light of the multiple criminal actions of HSBC reveals the true intent of Obama’s DOJ to allow these activities to continue unabated.
Talk about leaving the American people with plenty of law, but no justice.
Since their actions diminish the “Rule of Law” our nation was founded on, we deserve better.
Photo Credit: European Parliament (Creative Commons)
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