Showing posts with label HSBC. Show all posts
Showing posts with label HSBC. Show all posts

Wednesday, December 12, 2012

Here We Go Round The Mulberry Bush, The Mulberry Bush....HSBC Pays $1.9 Billion Fine to U.S.!

Here we go again!  HSBC  caught red-handed laundering  money (a lot of it) for nations/entities under United States  Sanctions. This reminds me of the movie,"Catch Me If You Can ". Big banks are the worst of the worst. Rate rigging, money laundering, toxic mortgage backed-securities, betting against their customers' positions and plenty more.
   So  what do our  Regulatory Agencies do?  Pull their license  ?  Shut them down? Restrict their business ? Of course not. They simply  hit em with what appears to be a huge fine or penalty to "John Q Public" , and business(I mean monkey business) goes on as usual.
   It's simply a license to break the law. Laughable!    Your thoughts.

   Wall Street analyst, S.F. Goldman the 3rd reporting.

Saturday, August 25, 2012

Wall Street ; Big Banks Key to Success , Make Sure You Have a Profitable "Money Laundering Division"!

Money Laundering , one of the World's oldest professions, apparently is alive , well and thriving. Standard Chartered, the big British bank just paid a $340 million fine for allegedly laundering billions of dollars . HSBC , is next on the hit list . HSBC has put aside $700 million for possible penalties , fines and sanctions. Remember, if you get caught, just pay the "Piper".
Deutsche Bank, Commerzbank of Germany, BNP Paribas and Credit Agricole of France and the Royal Bank of Scotland are now the focus of a "money laundering investigation" . Well, for God's sake, who isn't the focus of an investigation? And these are presumably just the foreign banks who got caught.
The scope of what really goes on would be mind boggling to anyone who is not an insider in the business.
How do you stop it? You don't! How do curtail it ? Indict high-level bank executives and
" pull their authorization " to do business in the United States . Get tough!
Will that work? I don't know... Your thoughts?

SF Goldman reporting.