HSBC’s record $1.9bn fine preferable to prosecution, US authorities insist

Click Here to Read:  HSBC’s record $1.9bn fine preferable to prosecution, US authorities insist.  Officials defend decision not to prosecute in money-laundering case despite HSBC’s ‘blatant failure’ to implement controls  Dominic Rushe in New York and Jill Treanor in London guardian.co.uk on the gaurdian.co.uk website on  December 11 , 2012.

Assistant attorney general Lanny Breuer said taking away HSBC’s US banking licence could have cost thousands of jobs. Photograph: Richard Drew/AP