HSBC has admitted that it is for all practical purposes a criminal enterprise masquerading as a bank. This is not a paperwork mistake or a lapse of oversight, it's their business model. Nobody will be prosecuted. The people performing these admitted criminal acts will be allowed to keep their paychecks, their bonuses, and in many cases, their jobs. No jail time, no criminal records, not even 40 hours of picking up trash in a park.
Planet Money talks about HSBC and well worth a listen. The problem really is why haven't any individuals been indicted from HSBC or any Wall Streeters (from the whole mortgage mess)?
On a side note, Planet Money is IMO an outstanding podcast.
Because then you would also end up having to indict all the government officials who were intimately involved in the mess. One of them is the outgoing Secretary of the Treasury (he was the head of the New York Fed then). Not gonna happen.