“Where does all of this money in fines go?  The booty goes to the Federal Reserve (which probably gives it back to these big foreign banks anyways through stealth bailouts), the Justice Department, and other federal agencies.  I struggle to think of another country besides the US that could successfully impose such obscene fines for similar reasons – that is because there are no meaningful comparisons.  It may be easier to see the political risk in this if it is put in another perspective. Imagine if China imposed a 13 billion yuan (~$2 billion) fine on JPMorgan for doing business that somehow involved Taiwan, a country Beijing considers a ‘rogue state.'”

https://www.internationalman.com/global-perspectives/the-hsbc-debacle-a-double-whammy-of-political-risk-and-hypocrisy

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy