Weekly News Update on the Americas
Issue #1156, December 16, 2012

1. Mexico: HSBC Gets Off Easy in "Drug War" Case
2. Argentina: Ford Motor Investigated for “Dirty War” Torture
3. Colombia: Petroleum Workers Leader Murdered
4. Haiti: "Earthquake Relief" Helps Build New Luxury Hotel
*5. Links to alternative sources on: Latin America, Paraguay, Bolivia, Peru, Colombia, Venezuela, El Salvador, Honduras, Mexico, US/immigration

ISSN#: 1084 922X. Weekly News Update on the Americas covers news from Latin America and the Caribbean, compiled and written from a progressive perspective. It has been published weekly by the Nicaragua Solidarity Network of Greater New York since 1990. It is archived at  http://weeklynewsupdate.blogspot.com. For a subscription, write to  weeklynewsupdate@gmail.com. Follow us on Twitter at  http://twitter.com/WeeklyNewsUpdat.

*1. Mexico: HSBC Gets Off Easy in "Drug War" Case
The London-based corporation HSBC, Europe’s largest bank, will pay the US government $1.92 billion in fines for its failure to prevent money laundering through some of its affiliates, including its Mexican branch, US assistant attorney general Lanny Breuer announced at a press conference in Brooklyn on Dec. 11. However, the US Justice Department has decided not to bring criminal charges against the bank. Breuer noted that bank executives faced some penalties. “HSBC has replaced virtually all of its senior management,” he said, “and agreed to partially defer bonus compensation for its most senior officials” over a five-year period.

As indicated in a 330-page report by the US Senate in July, Mexican drug cartels were major beneficiaries of the bank’s decision not to institute standard precautions against laundering [see Update #1137].[...]

Read the full Update:
 http://weeklynewsupdate.blogspot.com/2012/12/wnu-1156-hsbc-gets-off-easy-in-drug-war.html

Also available at:
 http://ww4report.com/