Sen. Chuck Grassley: HSBC should face...

Sen. Chuck Grassley: HSBC should face criminal charges

There are 17 comments on the The Washington Post story from Dec 20, 2012, titled Sen. Chuck Grassley: HSBC should face criminal charges. In it, The Washington Post reports that:

Dec. 20, 2012 - United States Senator Charles Grassley, R-Iowa, and Bloomberg Contributing Editor Neil Barofsky talk with Bloomberg Law's Lee Pacchia about HSBC's recent settlement with US authorities over claims the bank engaged in money laundering for drug cartels and terrorist organizations.

Join the discussion below, or Read more at The Washington Post.

Wall Street Government

Sebastian, FL

#1 Dec 21, 2012
Where is Phil Gramm?

Since 2002, Gramm has been an executive with the U.S. operations of UBS, the giant Swiss Bank.

At UBS, Gramm held the post of vice chairman, a position Michelle Leder dubbed in these pages as "the greatest job in business" for its combination of high status and low work rate. Gramm was a lobbyist and adviser, not an operating executive.

U.S. Sen. Phil Gramm, whose wife sits on Enron's board and audit committee, says he knew nothing about the energy company's precarious financial state in the months before it filed for bankruptcy, according to published reports.

The senator told The Dallas Morning News in Wednesday's editions that he did not know of Enron's impending collapse because he and his wife do not discuss her business activities.

"We talk about my taking out the garbage and Texas A&M football," he said in an article on the Houston Chronicle's Web site.

One of Congress' biggest recipients of Enron campaign donations, Gramm has decided to remove himself from congressional hearings focusing on what went wrong at the company. But he will take part in more general inquiries into accounting standards, investor protection issues and other matters, spokesman Larry Neal said.

The passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate.

The banking industry had been seeking the repeal of the 1933 Glass–Steagall Act since the 1980s, if not earlier. In 1987 the Congressional Research Service prepared a report that explored the cases for and against preserving the Glass–Steagall act.

Respective versions of the legislation were introduced in the U.S. Senate by Phil Gramm (Republican of Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr.(R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001.

How convienient this crooked scumbag is at the center of corruption.
Sheik Yerbouti

Richmond, IN

#2 Dec 21, 2012
Our laws dealing with economic crimes need teeth. These people should go to jail and not a country club jail but a tough maximum security prison! To wall street sociopaths fines are only a cost of doing business.

au contraire

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#3 Dec 21, 2012
Wall Street Government wrote:
Where is Phil Gramm?
Since 2002, Gramm has been an executive with the U.S. operations of UBS, the giant Swiss Bank.
At UBS, Gramm held the post of vice chairman, a position Michelle Leder dubbed in these pages as "the greatest job in business" for its combination of high status and low work rate. Gramm was a lobbyist and adviser, not an operating executive.
U.S. Sen. Phil Gramm, whose wife sits on Enron's board and audit committee, says he knew nothing about the energy company's precarious financial state in the months before it filed for bankruptcy, according to published reports.
The senator told The Dallas Morning News in Wednesday's editions that he did not know of Enron's impending collapse because he and his wife do not discuss her business activities.
"We talk about my taking out the garbage and Texas A&M football," he said in an article on the Houston Chronicle's Web site.
One of Congress' biggest recipients of Enron campaign donations, Gramm has decided to remove himself from congressional hearings focusing on what went wrong at the company. But he will take part in more general inquiries into accounting standards, investor protection issues and other matters, spokesman Larry Neal said.
The passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate.
The banking industry had been seeking the repeal of the 1933 Glass–Steagall Act since the 1980s, if not earlier. In 1987 the Congressional Research Service prepared a report that explored the cases for and against preserving the Glass–Steagall act.
Respective versions of the legislation were introduced in the U.S. Senate by Phil Gramm (Republican of Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr.(R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001.
How convienient this crooked scumbag is at the center of corruption.
You are talking about the law that Bill Clinton signed into law. You forgot to mention that, along with Dodd and Frankes.

au contraire

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#4 Dec 21, 2012
Sheik Yerbouti wrote:
Our laws dealing with economic crimes need teeth. These people should go to jail and not a country club jail but a tough maximum security prison! To wall street sociopaths fines are only a cost of doing business.
Since the people making the laws are also the ones breaking the laws, good luck with that.
Wall Street Government

Sebastian, FL

#5 Dec 21, 2012
au contraire wrote:
<quoted text>You are talking about the law that Bill Clinton signed into law. You forgot to mention that, along with Dodd and Frankes.
Why did I have to mention that?

Besides it was a veto proof majority:

In 1999, the Republicans held a majority in both the Senate and the House of Representatives.

The final version of the Gramm-Leach-Bliley Act passed the House by a vote of 362-57 and the Senate by a vote of 90-8. This made the bill "veto proof", meaning that if Clinton had decided to veto, the bill would have been passed anyways. Having said that, if Clinton truly didn't want the bill to become law, he could have vetoed the bill in a symbolic gesture, but this did not happen.

Chris Dodd didn't vote for it either.

The ONLY Dem. voting FOR it was Ernest Hollings (S.C.)

Barney Frank didn't vote vote for it either Le Dimbulb.

Still getting your facts from teabagger e mails?

Poor teabagger.
Your Ex

United States

#6 Dec 21, 2012
Wall Street Government wrote:
<quoted text>
Why did I have to mention that?
Besides it was a veto proof majority:
In 1999, the Republicans held a majority in both the Senate and the House of Representatives.
The final version of the Gramm-Leach-Bliley Act passed the House by a vote of 362-57 and the Senate by a vote of 90-8. This made the bill "veto proof", meaning that if Clinton had decided to veto, the bill would have been passed anyways. Having said that, if Clinton truly didn't want the bill to become law, he could have vetoed the bill in a symbolic gesture, but this did not happen.
Chris Dodd didn't vote for it either.
The ONLY Dem. voting FOR it was Ernest Hollings (S.C.)
Barney Frank didn't vote vote for it either Le Dimbulb.
Still getting your facts from teabagger e mails?
Poor teabagger.
Excellent Smackdown!
Very well done.
Your Ex

United States

#7 Dec 21, 2012
au contraire wrote:
<quoted text>Since the people making the laws are also the ones breaking the laws, good luck with that.
Maybe you should vote for less
Criminal
Candidates.
Wall Street Government

Sebastian, FL

#8 Dec 21, 2012
Your Ex wrote:
<quoted text>
Excellent Smackdown!
Very well done.
Le Dimbulb makes it easy.

The resulting backlash is his ever famous spam.com

au contraire

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#9 Dec 21, 2012
Wall Street Government wrote:
<quoted text>
Why did I have to mention that?
Besides it was a veto proof majority:
In 1999, the Republicans held a majority in both the Senate and the House of Representatives.
The final version of the Gramm-Leach-Bliley Act passed the House by a vote of 362-57 and the Senate by a vote of 90-8. This made the bill "veto proof", meaning that if Clinton had decided to veto, the bill would have been passed anyways. Having said that, if Clinton truly didn't want the bill to become law, he could have vetoed the bill in a symbolic gesture, but this did not happen.
Chris Dodd didn't vote for it either.
The ONLY Dem. voting FOR it was Ernest Hollings (S.C.)
Barney Frank didn't vote vote for it either Le Dimbulb.
Still getting your facts from teabagger e mails?
Poor teabagger.
Oh my, did they vote present like Obama instead. Love the excuses by the way.

au contraire

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#10 Dec 21, 2012
Your Ex wrote:
<quoted text>
Maybe you should vote for less
Criminal
Candidates.
Obama Picks Kerry, another man that lives off women.

Kerry Has Investments in Companies Accused of Violating Iran Sanctions

Committed perjury in front of Congress FLASHBACK: Kerry accused US soldiers of atrocities and 'terrorizing' children...

au contraire

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#11 Dec 21, 2012
Your Ex wrote:
<quoted text>
Excellent Smackdown!
Very well done.
Oh my, more gang violence from the girlie men.
Gary

Bellingham, WA

#12 Dec 21, 2012
HBSC was only doing what comes naturally to
corporations: making a dollar where ever
possible, and laundering money from the drug
cartels is just business. Free enterprise, at it were. For that they are in trouble?
Gary

Bellingham, WA

#13 Dec 21, 2012
au contraire wrote:
<quoted text>Obama Picks Kerry, another man that lives off women.
Kerry Has Investments in Companies Accused of Violating Iran Sanctions
Committed perjury in front of Congress FLASHBACK: Kerry accused US soldiers of atrocities and 'terrorizing' children..
Which companies?

au contraire

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#14 Dec 21, 2012
Gary wrote:
<quoted text>
Which companies?
John Kerry, who will be nominated later today to be the next secretary of state, is the richest member of the U.S. Senate. His estimated net worth is, at minimum,$198.65 million, according to disclosure forms. OH MY A 1 Percenter.

Kerry's disclosure forms also reveal that he has invested in companies accused of doing business with Iran.

One of the companies Kerry is invested in is called Petroleo Brasileiro SA Petrobras (Petrobras), it's a Brazilian-based oil and gas corporation. Disclosure forms reveal that Kerry has between $150,000 and 350,000 in assets in the company.

But a 2009 report from Congressional Research Services found that, since 1999, Petrobras has "major investments in Iran's energy sector."
Wall Street Government

Sebastian, FL

#15 Dec 21, 2012
au contraire wrote:
<quoted text>Oh my, did they vote present like Obama instead. Love the excuses by the way.
You just stated they voted FOR it Le Dimbulb, now you try yet another teabagger twist?

They BOTH voted NO.

Poor teabagger.
Don Joe

Maple Grove, MN

#16 Dec 22, 2012
?? red flags coming up on this one. A die hard fanatic republican coming out against a large corporation; coming out against a bank? There has to be a lot more to this story. Maybe this is simply a request for more campaign donations for republicans.
kitty1923

United States

#19 Mar 10, 2013
It is nice - at last - to have a senior Republican assert that maybe business people can committ crimes. Grassley and others spent so much energy enabling business fraud, deregulation & policies to prevent implementation of what was left. Now they complain about the logical outcome. WHAT a bunch of hypocrites.

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