White Collar Crime and the Trump Administration

The Obama administration had a mixed record on white collar crime.  On one hand, it extracted $4 billion and a guilty plea from BP in the wake of the Deepwater Horizon spill.  On the other hand, it allowed HSBC, then the fourth largest bank in the world, to sign a deferred prosecution agreement (DPA) over charges of laundering money for a Mexican drug cartel and serving as a banker for illicit regimes in Burma, Cuba, Iran, Libya, and Sudan.  The bank paid $1.256 billion in penalties, but because it never admitted its crimes and controlled such vast amounts of money, … Read more