Don't Mess With HSBC

Don't Mess With HSBC

It's interesting watching a Bank's behavior over time.

Forex fines

Money laundering fines

LIBOR fines

Tax avoidence scams

But, they didn't need a bailout.

Now the reactions

Mr Gulliver was also asked about the bank's policy on placing advertising in newspapers.

It follows an allegation made by the former chief political commentator at the Daily Telegraph who said that the newspaper avoided writing negative stories about HSBC, so as not to lose its advertising.

Mr Gulliver confirmed that HSBC does withdraw advertising from companies that publish negative editorial content.

Mr Gulliver is the CEO of HSBC.

Banking company HSBC has announced it will cut up to 25,000 jobs as part of a global restructuring that entails its withdrawal from Brazil and Turkey, as it also considers abandoning London as its headquarters.

~snip

It also said it expected to complete a review of where to locate its headquarters by the end of this year.

The UK has imposed stricter controls on the banking sector since the 2008 global financial crisis that have entailed greater costs.

So basically obeying the laws is unprofitable, we will go somewhere else where we can get away with it and preserve our profit margin.

Anyone that reports on our activities, is bad for our business.

Leave us alone.

Money laundering, tax avoidance and exchange rate fixing are our lifeblood, how dare you hold us accountable.

With profits of only $18.7 billion, we need to recoup our fines and lay off 25,000 people and find an HQ where our nefarious conduct will be welcome.

Plus the CEO had a cut in his bonus, that hurts.

HSBC chief executive Stuart Gulliver saw his overall pay for the year fall to £7.6m from £8.03m in 2013.

The lower total reflects a smaller bonus of £3.4m for the year, compared to £5.5m in 2013.

~sniff

Some regard the FIFA circus as something unusual, I would say it's pretty much the norm where buckets of money are concerned.
Then we come to TPP and TTIP

This mechanism could threaten almost any means by which governments might seek to defend their citizens or protect the natural world. Already it is being used by mining companies to sue governments trying to keep them out of protected areas; by banks fighting financial regulation; by a nuclear company contesting Germany's decision to switch off atomic power. After a big political fight we've now been promised plain packaging for cigarettes. But it could be nixed by an offshore arbitration panel. The tobacco company Philip Morris is currently suing Australia through the same mechanism in another treaty.

The bolding is mine.

This isn't capitalism, this is more like organized crime.

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