Letters to the Editor

December 17, 2012 12:00 AM

Bank’s lesson

The Dec. 11 article, UK regulator steps up compliance rules for HSBC, informed us that HSBC and the U.S. Justice Department entered into a $1.9 billion settlement of charges of extensive money laundering, including enabling Mexican drug cartels to launder money through the U.S. financial system. But the bank didn’t launder the money – the bank is a legal fiction. Individual people, bankers, laundered the money.

Related content