too big to jailRollingStone’s Matt Taibbi who has uncovered more rampant fraud at JP Morgan and Goldman than the rest of the entire financial MSM combined joins Bill Moyers to discuss the continuing lack of accountability for “too big to fail” banks which continue to break laws and act unethically because they know they can get away with it.
Taibbi refers specifically to the government’s recent settlement with HSBC — “a serial offender on the money laundering score” — who merely had to pay a big fine for shocking offenses, including, Taibbi says, laundering money for both drug cartels and terrorist-connected banks in the Middle East.

Taibbi also expresses his concern over Obama appointees — including Lanny Breuer and Mary Jo White — who go from working on behalf of major banks in the private sector to policing them in the public sector.

The rule of law isn’t really the rule of law if it doesn’t apply equally to everybody. If you’re going to put somebody in jail for having a joint in his pocket, you can’t let higher ranking HSBC officials off for laundering $800 million for the worst drug dealers in the entire world,” Taibbi tells Bill. “Eventually it eats away at the very fabric of society.

Taibbi’s full MUST WATCH interview is below:


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  1. Somebody a Vietnam veteran told me in 1981 that it was his observation that there indeed is a cadre of people above prosecution.  So none of what Taibbi says is a surprise to me.  I have never had a problem with JP Morgan HSBC BofA MF Global etc…That’s because I never have done business with any of them.  Something relating to due diligence.  I know another Vietnam veteran that lost a chunk of money with MF Global.  I told him that if he wanted to start a war over it I would back him up.  He didn’t go for it.  Stacking bullets and bullion is resistance.  Keep it up. 

    • I don’t know what one makes of this (because I know there are a ton of conspiracy theories on the matter), but I personally know and spoke to a former Vietnam vet that unknowingly was sleeping on a pile of heroin bags in a cargo plane when he was on his way back to Vietnam, from Laos. Not sure if it was the oft talked about American Airline transport or a military cargo plane but he told me that he opened a bag after being alerted by the strong smell to find it was heroin. 
      I don’t know how this all connects to that conspiracy theory about the CIA and their drug mission but that is a personal testimony that confirms the movement of drugs in that area during that time.

  2. How can there be any prosecutions if the laws as established, make it perfectly legal for a cartel to create fake money out of thin air, money not backed by savings, counterfeit money substitutes? I don’t mean savings from working for currency, I mean savings of real wealth to back the money substitute that the substitute can be redeemed for.
    If the root is rotten, the tree will die. Moral decline is a symptom of the fracturing of the trust in one another. When we (strangers) interact with each other through trade, we interact at the root level of human interaction and it is here that implicit trust must be established. If the tokens of trust that we exchange with each other are corrupted, (if one party to the trade has a dishonest intent to defraud), how can we explicitly trust each other if the tokens are universally used? We know (or at least intuitively suspect) that the exchange is bogus on one side, the side with the person holding cash.
    “The Evil Princes of Martin Place” lays out clearly the mechanics of scam, in layman’s terms, where the author shows where these Fractional Reserve Banks got their start and won protection from the laws as writ. He takes the story up, where “The Creature From Jeckyll Island” left off. This goes back a long way before the 1913 establishment of that Fraction Reserve Bank (FRB) called The Federal Reserve Bank. (FRB). It is sickening.

  3. We will never see another big bank prosecuted as long as the current crop of politicians are in office. Sure a few of them may be good but the majority are bought and paid for. Time for a new government with strict term limits and limits on compensation/insurance/retirement

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