Host Constance Draft examines HSBC's staggering $1.2 billion settlement with U.S. regulators over anti-money laundering failures and sanctions screening violations, exploring what happens when compliance systems break under the weight of modern global banking. The episode also covers record highs for the S&P 500 and Nasdaq, the Fed's decision to hold interest rates steady, and Skydance Media's $16 billion acquisition of Paramount Global.

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