Fraud and Drug financing are comparatively minor issues, to an unstable economy where sudden inflation, due to a credit freeze -> due to major institutions being unable to lend (in the giant credit ponzi scheme) -> cause rioting, mass starvation, and economic collapse across all major US cities. HSBC is one of the NEWER institutions that still has a good credit rating to keep other institutions afloat. Remember when HSBC first started sending out preapproved credit cards back in 2005ish?
Although Richard Wolff has a large number of talks on youtube (basically variations on the same points), he's been telling the same tale for decades and was in the meetings in NYC where federal regulators "bailed out" the financial sector in 2007 and 2008 and 2009... etc. https://www.youtube.com/watch?v=_-KqeU8nzn4 - Knowing why can't help the US when the politicians are told how to vote against the public interest.