'Europe is extremely sick', says Deutsche Bank chief economist - Too Big To Jail: HSBC escaped money laundering charges because of market meltdown fears Chancellor George Osborne is one of the senior officials who said charges against HSBC could rock global markets.

ALSO READ: 'Europe is extremely sick', says Deutsche Bank chief economist


By Roger Baird July 12, 2016 08:39 BST

Top US officials stepped back from prosecuting HSBC for money laundering in 2012 due to concerns inside the Department of Justice that it would destabilise the global financial system, said a Congressional report.

Chancellor George Osborne and other senior UK officials added to pressure by warning the US that charges against the bank could rock markets, says a report by Financial Services Committee of the House of Representatives.

Continue reading at.....http://www.ibtimes.co.uk/too-big-jail-hsbc-escaped-money-laundering-charges-because-market-meltdown-fears-1570150