Evidently, for most people, reading about allegations of corruption of epic proportions at huge banking institutions that go unchallenged by government regulatory authorities makes their eyes glaze over.
It’s obvious such matters are of no interest to the semi-official press in America.
I come to these conclusions following the breathtaking reporting by Jerome Corsi on what whistleblower John Cruz, a former vice president and relationship manager for HSBC in New York, has documented about a massive money-laundering scheme apparently taking place at one of the world’s largest banks.
Cruz’s thanks for persistently trying to do the right thing, over years, working with HSBC executives, local law enforcement agencies, officials of the Department of Homeland Security and, most recently, the Internal Revenue Service, was being fired from his job.
For his part in making all this public, Corsi lost his position with Manhattan-based Gilford Securities.
For WND’s role in bringing all this to the public’s attention, the bank successfully blocked some of its coverage temporarily by lodging a bogus complaint with an Internet service provider.
Meanwhile, Cruz not only has thousands of pages of documents he captured while working at HSBC, he has hours of audio recordings he made with executives explaining that the money-laundering operation was, in the parlance of our times, “too big to fail.” He also has recordings he made with law enforcement officials who sat on his revelations for years.
What’s scary about all this is manifold:
- Government oversight of financial institutions seems to be only for smaller institutions, not the biggest banks in the world.
- The response by law enforcement officials to having criminal evidence dropped in their laps was to send it back over to the bank for review.
- No other media – either in the financial area or the popular press – has found the evidence that a major bank, and possibly others, of course, is involved in laundering money for organized crime and drug cartel operations to the tune of billions or even trillions.
- And no one has stood up for the heroes – both Cruz and Corsi, in my opinion – who put themselves at considerable risk and paid the consequences for doing the right thing.
Why was the Bernie Madoff story such a big deal to people when, at the end of the day, this HSBC scandal could make it look like chicken feed by comparison? Is it only because famous people lost money? After the fall of Lehman Brothers and the economic collapse that ensued, after Jon Corzine and MF Global, after the unregulated derivatives trading scandal, after all the bailouts and all the pledges by government to clean up these messes, how could it be that the HSBC scandal goes unchecked, unreported, unindicted?
Is HSBC too big to fail, too?
Is it too big to be investigated?
Is that where we are headed in America and the new global economy?
Is everyone living in abject fear of the rich and powerful?
I think it’s going to take an effort by the public to awaken the media and government officials to the fact that we are on to them.
If you fail to pay a few dollars in income tax, you will eventually end up in jail.
By comparison, banksters can take billions or trillions from criminal enterprises, deposit them in phony accounts using your stolen Social Security numbers and ID and never report a dime of the activity to government. If they get caught once or twice, the banksters are happy to pay fines of hundreds of thousands or even millions as part of the cost of doing business.
Does that make you mad?
It makes me angry.
So here is what I would like you to do.
Read the entire nine-part series on HSBC, and circulate it others. Send it to financial reporters and editors at the Wall Street Journal and Investors Business Daily and Forbes and Fortune. Send it to members of Congress, especially those who serve on banking committees. Send it to the Department of Justice and ask why Eric Holder is more interested in pursuing Sheriff Joe Arpaio on bogus allegations than on heists of billions or trillions. Post them on Facebook and Twitter. In other words, help me get some buzz going.
People are putting their lives at stake exposing this scandal. They have already lost livelihoods for doing right.
Will you stand up to support these unsung, unrecognized heroes?
Here are the stories for your review – and there’s plenty more to come: