The Department of Justice, as much as they will try to tell you otherwise, believes it.
When push came to shove, prosecutors did not have the stones to do what is right, and what is absolutely necessary.
Wall Street has been given the road map to the land of Business As Usual. Just get as big as you want, do whatever you want, and have no fear of being caught. You will still be off-limits from criminal prosecution.
By choosing not to indict HSBC for money laundering, and instead handing them a nearly $2 billion settlement in order to defer prosecution, that is what the DOJ is effectively saying.