HSBC

Le chef de l’état français Philippe Pétain rencontre le Chancelier allemand Adolf Hitler à Montoire-sur-le-Loir en France, le 24 octobre 1940 – photo str/AFP

November 13, the United Kingdom’s Serious Fraud Office (SFO) announced it was charging 10 individual bankers, working for two separate banks, Deutsche Bank and Barclays, with fraud over their rigging of the Euribor rates. The latest announcement shines the spotlight once again on the scandals and criminal behavior that have come to define the world of global banking.

Bank Crimes Pay: Under the Thumb of the Global Financial Mafiocracy
By: Andrew Gavin Marshall
27 November 2015
Originally posted at Occupy.com

Like a neutrino bomb on the landscape of banking, regulation and journalism, the HSBC tax evasion story via its Swiss subsidiary keeps spreading with devastating effect – at least for those whose careers concern it.  According to investigative journalist Nafeez Ahmed, who managed to get hold of rather golden whistleblower material from Nicholas Wilson, a “conspiracy of silence” has characterised the treatment of HSBC within the regulatory community, law-enforcement authorities and the media generally.

According to whistleblower Nicholas Wilson, HSBC was 'involved in a fraudulent scheme to illegally overcharge British shoppers in arrears for debt on store cards at leading British high-street retailers' including B&Q, Dixons, Currys, PC World and John Lewis. Up to 600,000 Britons were defrauded.
The post ‘A Conspiracy Of Silence’ – HSBC, The Guardian And The Defrauded British Public appeared first on BSNEWS.

“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.
The post HSBC and the sham of Guardian’s Scott Trust appeared first on BSNEWS.

If there is one story that encapsulates the corruption of public life at every level, it is the latest revelations about HSBC’s Swiss bank helping thousands of clients evade tax. Some £78 billion was stashed away, out of sight of the tax authorities of various countries.

The industry still prizes short-term profit over long-term prudence, today’s bonus over tomorrow’s relationship.
— Christine Lagarde, IMF Chief, May 27, 2014

In part 1 of this series (“Globalization’s Game of Thrones”) I examined the concept of corporate and financial dynasties holding significant power in the modern world.