
(Matt Taibbi's story on Rolling Stone)
The British bank, HSBC, was recently exposed as having been deeply and brazenly tied with money laundering for drug lords in Latin America and ties to terrorist organizations in Saudi Arabi and Bangladesh. The penalty upon the banks senior leadership? Tantamount to a slap on the wrist. The Justice Department gave the senior leadership of HSBC a cushy deal that has HSBC taking back deferred compensation to some of its most senior US anti-money laundering and compliance officers and also having the bank "partially defer" compensation for senior executives during a five-year deferred prosecution...