Posted on 14 December 2012.
Neil Barofsky, The New Republic
You can be forgiven if you watched the Department of Justice’s announcement yesterday of a $ 1.92 billion settlement with HSBC with a sense of disappointment–and déjà vu. The event checked all the boxes in a theatrical routine that has become all too familiar.Descriptions of breathtaking misconduct involving the facilitation of massive drug trafficking and transactions with rogue terror-sponsoring nations? Check.Broad boasts about the "historic" nature of the settlement that will certainly end the type of criminal misconduct alleged? Check.
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