Obama Administration Essentially Admits That Some Banks Are Too Big To Jail, Which Is Troubling
Mark Gongloff, Huffington Post | December 12, 2012

One of the great things about being too big to fail is that you’re also too big to jail, apparently.

So saith the Obama administration, via the New York Times, in its front-page story on Tuesday about HSBC’s settlement with the government over money-laundering charges. Though the British banking giant had to pay a wrist-stinging $1.9 billion, the settlement helped it avoid formal criminal charges. …

Instead, not a single HSBC individual faces criminal prosecution, despite evidence that billions of dollars were laundered on behalf of Mexican drug lords …