Break Up the Megabanks…HSBC Rally
New York Public Library, 41st and 5th Ave
Monday, March 4, 2013
11:45am until 1:30pm
OUR MESSAGE ON MARCH 4TH IS THIS: Break up the megabanks! Revoke HSBC’s US banking license!
Rally to call for a break up of the mega banks who are Too Big to Fail, Too Big to Jail and simply Too Big.
If they get into trouble, they hold the economy hostage to avoid prosecution. This was just illustrated most dramatically when HSBC and other banks got away with facilitating money-laundering by drug dealers, terrorist and Iran among others. Even though HSBC confessed to these heinous acts, they were not prosecuted for fear of “horrible consequences” to the economy.
But this is just the latest case. Another example of flagrant criminal activity was the “Robosigning scandal”. Megabanks including Bank of America, JPMorgan Chase and HSBC were caught committing massive fraud in their rush to foreclose on underwater borrowers. Here too, there were no criminal prosecutions, just a slap on the wrist and a promise by the banks to behave better in the future. A promise they have already broken.
View the Facebook Event here.