Biden Administration Protects Banks Funding Terrorist Groups

Victims of terrorism have been trying to hold banks accountable for laundering terrorist money, but the US government doesn’t want that to happen. Attorney Chris Paulos joins Mike Papantonio to explain what’s happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Victims of terrorism have been trying to hold banks accountable for laundering terrorists money, but the US government, the DOJ, DOD, well they, they don't want that to happen. Attorney Chris Paulos joins me now to talk about what's happening here. Chris, this to me, is an, is an extraordinary story. I mean, we know that the banks washed money for terrorists. We have, they, they admitted it. They, you know, HSBC said, yeah, we did it. They signed a huge document where they admitted every bit of it. And now your case is to say they knew they were washing money for terrorists. We knew, we knew contractors were being killed. Soldiers were being killed. And the banks should not get away with that. You would think the Department of Justice and the Department of Defense maybe would help you with that. Just the opposite is true with this administration, isn't it?

That's right. Just recently, the Supreme Court of the United States asked the United States government, the solicitor general to basically give its perspective on a case that's, it's considering taking up on an appeal and reviewing. And the government has now filed a brief saying that this case is not appropriate for the Supreme Court to review and that lower courts have interpreted a new law called JASTA appropriately, when in fact that's not at all the case. Courts have been applying an older standard and this new law was passed in 2016, over Obama's veto. So, frankly to see the Biden administration come in and, and kind of take a swipe at this law that was, you know, a big loss for the administration that he was a part of at the time, I, I guess, should come as no surprise. But the fact is, is that these cases against these banks are, as you point out, incredibly strong. We've got banks that have admitted to this conduct. And now we have plaintiffs who have been injured by it, trying to seek redress in the courts and.

Well, we're talking about thousands of soldiers.

Absolutely.

We're talking about thousands of contractors. I remember when Obama and Biden, when, when JASTA came out, it was to say, look, we can't let the banks get away with this. Okay. They can't just give money to criminals knowing that the criminals are gonna kill US soldiers and US contractors, and just say that's okay. So law was passed, JASTA. You were very involved in that whole process. And then, and then the Obama administration Biden was vice president, tried to veto that and they, the veto was overridden. But now this is another shot that this administration through Biden is taking at soldiers. That's what this is. This is just a complete shot at soldiers saying, you may not recover knowing that we know where the money came from. We know it was washed, but you can't recover from that. That's exactly what this comes down to, isn't it?

Absolutely. And, and one, one of the things that makes this such a stinging position for the administration to take is that the DOJ itself has tried to prosecute or deferred prosecution of these banks and levied fines on them, which essentially are a slap on the wrist. The, the fines were abysmally low, considering the conduct and the effect that it had. And basically didn't stop the banks from, from, from their conduct.

Well, they're still doing it.

Absolutely.

They're still doing it. And so, so in order, the, the fine you're talking about was nothing. It was during Eric Holder.

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