A former British tax official, Dave Hartnett, has told a committee investigating tax evasion in the U.K. that he’s surprised that more HSBC clients haven’t been prosecuted for tax evasion.
Hartnett stated: “I’d like to understand why there weren’t more criminal prosecutions. I’d always expected there to be more. I’d have liked to understand what would have happened if more resources were diverted to [investigating the leaked details].”
It sounds a lot like the same problems we have here in the United States: big banking crimes with zero punishment. So how do these banking hustlers become so untouchable?
America’s Lawyer, Mike Papantonio, discusses this with author Nomi Prins, senior fellow at Demos.
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