HSBC - the cockroach of the banking world?

[phildwyer]

only an ignoramus would say 'non sequitor' when as any fule know it's 'non sequitur'.

Only a fool wouldn't know it is "as any fule kno."

 

[Pickman's model]

Only a fool wouldn't know it is "as any fule kno."

so you're no fool but an ignoramus.

 

[teqniq]

Anger over 'dirty deal' which saw 1,100 UK holders of HSBC Swiss accounts dodge prosecution and how the bank's boss walked into a top Government job

Daily Fail

Denials continue despite MPs hearing of HSBC tax evasion claims in 2011

Graun

e2a

HSBC files show Tories raised over £5m from HSBC Swiss account holders

Labour too has received cash and loans from bank’s clients, while leaked documents also reveal many donors with HSBC accounts had non-dom tax status

 

[pesh]

old but still valid.

 

[treelover]

Has the spotlight fell on Dave Hartnett yet?

 

[treelover]

It really is surprising that the authorities have not made the list of tax evaders public....


http://www.icij.org/project/swiss-leaks/banking-giant-hsbc-sheltered-murky-cash-linked-dictators-and-arms-dealers

Fantastic, journalists doing what they went into journalism for, more like this.

 

[teqniq]

Has the spotlight fell on Dave Hartnett yet?

He's been mentioned in some of the links already but here is today's Fail offering

HMRC boss on rack for 'failing to pursue cheats': Critics accuse agency of 'selective prosecution policy' towards tax evasion cases

 

[teqniq]

Actress Emma Thompson and her husband refuse to pay 'a penny more' in taxes until HSBC tax evaders go to jail

 

[emanymton]

Wish I was rich enough to be able to decide I don't want to pay tax.

 

[Sasaferrato]

econothickie warning: i don't understand money markets

whenever i read anything about the collapse of banks, the bank i belong to, HSBC, seems to not get a mention.

this graphic below is odd...anyone explain this

http://image.guardian.co.uk/sys-files/Guardian/documents/2008/10/07/BANK_ASSETS_0710.pdf

Nope. No more 'cockroach' than than rest of the filthy industry. Had I the power, I would remove the banking license from any bank that has been fined by a regulator for malpractice. Hang on though, would there be a bank left if you did that?

 

[Sasaferrato]

Has the spotlight fell on Dave Hartnett yet?

That cunt!

 

[Chilli.s]

Has the spotlight fell on Dave Hartnett yet?

Hes the one with the nasty smell of corruption. Utter cunt.

 

[Sasaferrato]

He is the man who let Vodaphone walk away from an £8Bn tax bill, plus interest. And he gave them time to pay on the crumbs they threw him.

 

[CNT36]

https://medium.com/@NafeezAhmed/death-drugs-and-hsbc-355ed9ef5316

Recent reporting on illegal tax evasion by the world’s second largest bank, HSBC, opens a window onto the pivotal role of Western banks in facilitating organised crime, drug-trafficking and Islamist terrorism. Governments know this, but they are powerless to act, not just because they’ve been bought by the banks: but because criminal and terror financing is integral to global capitalism. Now one whistleblower who uncovered an estimated billion pounds worth of HSBC fraud in Britain, suppressed by the British media, is preparing a prosecution that could blow wide open the true scale of criminal corruption in the world’s finance capital.

According to whistleblower Nicholas Wilson, HSBC has been integrally involved in a fraudulent scheme to illegally overcharge British shoppers in arrears for debt on store cards at leading British high-street retailers. Without knowing, hundreds of thousands of Britons have been defrauded of a total of one billion pounds worth of money, reveals Wilson, a former debt recovery specialist who uncovered the crimes.

Most disturbing of all, the story of HSBC’s fraud against British consumers has been systematically ignored by the entire British press. In some cases, purportedly brave investigative journalism outfits have spent months investigating the story, preparing multiple drafts, before inexplicably spiking publication without reason.

To date, the only mainstream coverage Wilson has received was a brief appearance on BBC’s The Big Questions. That is not for want of understanding the story.

The full list of media organisations that have investigated, then spiked, Wilson’s story, despite its unprecedented importance and public interest value, includes BBC Panorama, BBC Newsnight, BBC Moneybox, BBC Radio 5 Live, The Guardian, Private Eye, and most recently, The Sunday Times.

 

[Barking_Mad]

Can't we just kill these cunts?

 

[teqniq]

I can kinda sympathise with that otherwise where will there be any justice? One law for us and next to none for them etc...

 

[Chilli.s]

Its money, it buys a different kind of justice.

 

[Barking_Mad]

https://medium.com/@NafeezAhmed/death-drugs-and-hsbc-355ed9ef5316

You can follow the guy on Twitter. Mr. Ethical @nw_nicholas

 

[teqniq]

Its money, it buys a different kind of justice.

You mean the none at all kind I surmise, at least for them.

 

[J Ed]

https://medium.com/@NafeezAhmed/death-drugs-and-hsbc-355ed9ef5316

If the Guardian is willing to expose the wrongdoing at the Swiss arm of HSBC why would it ignore this exactly?

 

[CNT36]

If the Guardian is willing to expose the wrongdoing at the Swiss arm of HSBC why would it ignore this exactly?

The article asks the same question and attempts an answer.

Still, why would there be such a huge degree of censorship on Wilson’s story on HSBC fraud, but abundant coverage of the HSBC Swiss bank tax evasion scandal? The scandal, points out Benjamin, is not related to UK crimes, or issues that might threaten HSBC’s continued operation in the UK. Given that HSBC has subsidiaries in 556 tax havens around the world, he said, the bank can “deal with a tax avoidance scandal in one of these jurisdictions, and continue relatively unscathed.”

But there is another issue, which relates to the scale of such fraud in the UK, and its contribution to economic growth. London, even more than Wall Street, is the world’s finance capital, harbouring most of the global economy’s international transactions, and therefore holding 400% more money than Britain’s entire GDP. A significant quantity of this money — “many hundreds of billions of pounds” worth — is from the criminal economy and laundered through UK banks and their subsidiaries. As Benjamin said:

“What the British government cannot tell the public is that the current growth model for the UK economy revolves around the endorsement and protection of financial sector fraud.”

The exposure of HSBC’s fraud in Britain could fundamentally jeopardise both the bank’s domestic and US operations.

 

[J Ed]

The article asks the same question and attempts an answer.

Yes, I read that and did not find it very convincing to be honest.

 

[CNT36]

Yes, I read that and did not find it very convincing to be honest.

Aye. Not quite sure I buy it either. Alas "attempts".

 

[treelover]

Recent reporting on illegal tax evasion by the world’s second largest bank, HSBC, opens a window onto the pivotal role of Western banks in facilitating organised crime, drug-trafficking and Islamist terrorism. Governments know this, but they are powerless to act, not just because they’ve been bought by the banks: but because criminal and terror financing is integral to global capitalism. Now one whistleblower who uncovered an estimated billion pounds worth of HSBC fraud in Britain, suppressed by the British media, is preparing a prosecution that could blow wide open the true scale of criminal corruption in the world’s finance capital.

London floats on laundered money as I suspect do to an extent other cities like Manchester and maybe Liverpool.

 

[teqniq]

MPs question HSBC, HMRC and Rona Fairhead about tax dodging at HSBC: Politics Live blog

Hodge tells Fairhead to resign - Full quote

Here is the key exchange between Margaret Hodge and Rona Fairhead, when Hodge told Fairhead to resign as chair of the BBC Trust.

MH: I want to come to you, Ms Fairhead, and I’m going to say something. It’s a bit unpleasant to say, and I’m just saying it as a licence fee payer. Having watched your performance this afternoon I’ve got to say this to you, that either you knew and you

RF: I categorically deny that.

MH: Or you didn’t know. And in that case you are either incredibly naive or totally incompetent. I don’t think that the record that you have shown in your performance here as a guardian of HSBC gives me the confidence that you should be the guardian of the BBC licence fee payers’ money. I reallly do think that you should consider your position and you should think about resigning and if not, I think the government should sack you.

hehehe

Laughter aside this is something that seriously pisses me off; how a great many of these people all seem to have positions in large organisations in some sort of merry-go-round. I imagine they are all connected by the same public schools and universities.

 

[not-bono-ever]

Marge Hodge is the Sister of Ralph Oppenheimer, the recently departed Chairman of Stemcor - the oppenheimer family effectively own Stemcor, the biggest steel trading company in the world. The family have always been solid ole school labour, as it was. but are srsly loaded

/ends

 

[teqniq]

HSBC: Tory MPs accused of blocking watchdog's bid to question Green

Conservative MPs have been accused of blocking a parliamentary committee’s attempt to scrutinise the former HSBC boss and minister Stephen Green over the tax scandal at Britain’s largest bank.

A proposal put forward by a Labour MP to call the bank’s former chief executive, who later became a Conservative minister, before the powerful Tory-dominated public accounts committee (PAC) has been voted down, sources confirmed.

Lord Green, who left HSBC to join the House of Lords as a Conservative peer and trade minister in 2010 after three decades at the bank, has yet to be questioned by any parliamentary committee over the scandal. Green stepped down as a trade minister at the end of 2013 but remains a peer.

The disclosure will prompt further accusations that the Conservatives have launched a concerted effort to stop scrutiny of Green because of his relationship with the prime minister.

Really he should be being questioned by the Serious Fraud Office

 

[brogdale]

HSBC: Tory MPs accused of blocking watchdog's bid to question Green



Really he should be being questioned by the Serious Fraud Office

...but, but.....that could result in prosecution.

 

[teqniq]

Death, drugs, and HSBC
How fraudulent blood money makes the world go round

 

[J Ed]

http://www.theguardian.com/business/2015/jun/09/hsbc-cuts-25000-jobs-globally

HSBC is to cut up to 25,000 jobs around the world – including as many as 8,000 in the UK – as its chief executive, Stuart Gulliver, embarks on a fresh strategy to reduce costs and bolster returns to shareholders.

Those 8,000 will be almost entirely low paid call centre and branch staff. Poor paying for the mistakes of the rich, again