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> A good faith interpretation would be that the US has the most advanced system for financial regulation

One only has to take a peek at the HSBC cartel scandals to know that's patently bullshit.


HSBC is a British bank. Yet, skimming https://en.wikipedia.org/wiki/HSBC#Controversies it appears almost all investigations and fines were the result of SEC and other US investigations.

Watch the HSBC episode of 'Dirty Money' on Netflix. They got away with a tiny slap on the wrist for absolutely glaring circumvention of anti money laundering rules. The best way I've heard it said is America has some of the strongest financial regulations in the world, there's just laughably weak enforcement of those regulations.

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