Corruption Smiles Back: Banks Launder Billions of Dollars Of Drug Cartel Funds with NO REPERCUSSIONS

HSBC admitted in court last month that it knowingly allowed $881,000,000 in Mexican Drug money to be laundered through their system. It also admitted to violating the Trading With the Enemy Act by moving hundreds of millions of dollars into countries like Iran, Cuba, and Sudan. The bank even went so far as to instruct those countries​ on how to not get caught while moving the money.

Oh, and by the way NOBODY WAS CHARGED.

The illegal activity that HSBC admitted to had taken place over the course of 5 years, but it had to pay only about 10% of its 2010 earnings, which means that the whole money laundering thing was an overall profitable venture. I wouldn't even call this a slap on the wrist. It's more like a rough massage on the wrist.

HSBC isn't the only bank to profit from illegal activity even after getting caught. ING Bank paid $619,000,000 of the $2 billion it traded while violating the Trading With the Enemy Act with Iran. That's less than half of the money that it traded while breaking the law, whereas if it hadn't broken the law, it would have made no money. Breaking the law seems like a pretty good idea if you're a bank.

American Express Bank International admitted to making $55,000,000 in drug money and had to pay $0 but had to promise to do better.

Wachovia Bank laundered $378,400,000,000 in drug cartel money. It'll be a miracle if they're held accountable for all of it.

It's abundantly clear that the war on drugs doesn't extend to the kingpins and banks that hide the money.