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This paper puts forward the thesis that the concept of “Too-Big-To-Fail” functions as a cover for the impunity conferred to financial elites in the United States in cases that also involve transnational organized crime, such as drug trafficking activities and drug-related violence. The authors illustrate their argument by examining the case of the HSBC bank (2012), in which no entity or person suffered a federal conviction for extensive criminal conduct for banking/financial violations that facilitated money laundering by Mexican and Colombian drug trafficking organizations. In Mexico, these criminal enterprises seek political protection through the bribery of public officials. By explaining this case, the authors demonstrate the futility of protecting big banks in related circumstances, and note that larger banking institutions have indeed failed without precipitating a collapse of the economy. The authors conclude with recommendations for reforms to the penalties typically applie

United statesNew yorkUnited kingdomNorth koreaSaudi arabiaJaime zapataDarrell delamaideGuadalupe correa cabreraMoore jrCharles lewisWilliam yaworskyAmerican battlefieldEurasia groupHuman rights watchOffice of the comptrollerUs department of defense