Too Big Too Indict, HSBC, Barclays and UBS Set Ugly Precedent

Too Big Too Indict, HSBC, Barclays and UBS Set Ugly Precedent: Today's New York Times carries the story that HSBC has escaped criminal prosecution because of fears that an indictment on money laundering charges would undermine the financial system. It's a familiar argument - too familiar. But the actions of prosecutors risk undermining the broader social system, with even more serious consequences.