Tell Maryland Attorney General Doug Gansler There Should Be No Such Thing as “Too Big To Jail”
By refusing to prosecute global banking behemoth HSBC for laundering hundreds of millions of dollars on behalf of alleged terrorists in the Middle East and drug cartels in Mexico and Colombia, the Department of Justice is sending the message that Big Banks are above the law.
The evidence against London-based HSBC – the third largest bank in the world, with more than $2.5 trillion in assets – was overwhelming. But, instead of pursuing criminal charges, the Justice Department simply fined HSBC $1.9 billion – which sounds like a lot, until you realize that’s only about a month’s worth of profit for the bank.
HSBC’s slap on the wrist is a slap in the face to anyone who believes that there should be no such thing as “too big to jail.”
Join Public Citizen in calling for punishment that could actually deter corporate crime:
Demand justice. Add your name to the petition to revoke HSBC’s corporate charter.
PETITION TO MARYLAND ATTORNEY GENERAL DOUG GANSLER
We, the undersigned, call on you to use your authority to forfeit HSBC’s corporate charter. HSBC is a large corporation, but should enjoy no special privilege because of its size. A Maryland corporate charter should signal integrity, and we ask that you uphold this standard.
Why Petition Maryland's Attorney General?
The US division of HSBC is chartered in the state of Maryland. Under Maryland law, the attorney general has the power to forfeit a company’s corporate charter as punishment for engaging in organized crime. Charter forfeiture would represent a strong new tool states could use to enforce the integrity of corporate behavior.
Public Citizen’s FOIA requests (PDF) to the Department of Justice, Department of the Treasury and the Office of the Comptroller of the Currency seeking the government's detailed justification for not prosecuting HSBC criminally.