I’m sure you’ve heard the news about HSBC by now- the US Government has decided not to pass indictments against them for money laundering. And the reason? Well, it appears that HSBC is too big to jail. What we’ve been told to believe is that if they arrest executives at HSBC, the entire banking system is at risk of a collapse. They also have some lovely property to sell you on beautiful Lake Okeechobee.
HSBC has been accused of enabling drug lords and ‘renegade governments’ launder billions of dollars through their bank. This is a very serious allegation, with some very serious circumstances- if anyone in the “99%” committed a crime like this it’s likely they would get a very harsh punishment. But, in today’s world, bankers have become immune…
Iceland took an opposite direction to the US. They changed their government, focussed on bailing-out the people more than the bankers, and they finished the job by jailing some of the bankers who were responsible. Their result was quite impressive- it was challenging immediately after they restructured, but it got better over time. Their economy has been steadily improving now.
What’s happening in the US? There are more and more unemployed and discouraged workers, tens of thousands of people are losing their unemployment benefits, an exile from the Soviet Union was in court for reporting on an Occupy LA event, and the police are arresting people for stealing loaves of bread.
Occupy was supposed to be about fixing the banks- it was called “Occupy Wall Street”, not “Occupy Hollyhock“. Most occupations got lost in environmental, and identity politics and, unfortunately, forgot all about their primary focus. And, now, bankers are too big to jail.
Had Occupy been the least bit successful focussing on the banks, we wouldn’t see things like this happening. Could you imagine the government would have made such a decision on September 17, 2011? Hardly- it would have been a recipe for driving the people to revolt.
But, now, a bit over a year later, the government is confident enough to make an outrageous decision like this. Occupy failed- miserably…