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Quite the World, Isn't It?

On Walmart, HSBC, and the irrelevancy of laws and morals

So Walmart says it bears no responsibility (transparently false) for the Tazreen garment factory fire in Bangladesh because the work was being done under orders from a subcontractor, and without Walmart’s permission. And HSBC is going to buy its way out of potential criminal charges over allegations of illegally moving money for drug dealers and nations under international sanction, because to send guilty bankers to jail might endanger the massive bank’s existence.

When committing an immoral act, or an illegal act, has no consequence, why have morals or laws at all?

We have in recent decades seen a massive swing by various levels of government to put corporate and financial interests ahead of the interests of people. It’s a major propellant in the move to globalism, removing barriers to the flow of goods and cash that allows corporations more freedom to operate. But their freedom has led to a sharp decline in the health and vitality of American communities, from the standards of living that have crumbled across much of the country, to the education and health of our citizens. And it is in part because the people making decisions at corporations know they most likely will get a pass from the legal system and, of they are not caught, a bionus from their bosses.

Instead, in the case of HSBC, there will be a fine, maybe a lost job or two for show, and then business as usual. With the fine not coming from the pockets of the miscreants, but from the shareholders.

From the New York Times this morning, on HSBC:
Given the extent of the evidence against HSBC, some prosecutors saw the charge as a healthy compromise between a settlement and a harsher money-laundering indictment. While the charge would most likely tarnish the bank’s reputation, some officials argued that it would not set off a series of devastating consequences.

A money-laundering indictment, or a guilty plea over such charges, would essentially be a death sentence for the bank. Such actions could cut off the bank from certain investors like pension funds and ultimately cost it its charter to operate in the United States, officials said.
And from a separate item on Wal-Mart’s Nixonian evasions of responsibility:
Scott Nova, executive director of the Worker Rights Consortium, said the new documents raised additional questions about Walmart’s role at the factory.

“If Walmart’s claim that they were the victim of one rogue supplier had any shred of credibility, it’s gone now,” he said. “Walmart is limited to one of two options — to say, yes, we know these suppliers were using the factory or, two, we have no control over the supply chain that we’ve been building in Bangladesh for more than 20 years.”
Nope, wasn't us, Walmart says, it was those uncontrollable subcontractors who do our bidding to drive down costs to keep our goods low-priced for the American consumer. And the consumer is always right.

You know, we vote with every dollar we spend. So spend more wisely. And morally. And, dare I say, righteously.
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