Drugs, Elites and Impunity: The Paradoxes of Money Laundering and the "Too-Big-To-Fail" Concept
This paper puts forward the thesis that the concept of “Too-Big-To-Fail” functions as a cover for the impunity conferred to financial elites in the United States in cases that also involve transnational organized crime, such as drug trafficking activities and drug-related violence. The authors illustrate their argument by examining the case of the HSBC bank (2012), in which no entity or person suffered a federal conviction for extensive criminal conduct for banking/financial violations that facilitated money laundering by Mexican and Colombian drug trafficking organizations. In Mexico, the...
Source: smallwarsjournal.com
