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    ANOTHER shocking revelation about the banks !

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    papa_umau
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    ANOTHER shocking revelation about the banks !

    Post by papa_umau on Wed 18 Jul 2012, 10:53 am

    While the honesty and trustworthiness of the banks is already at an all-time low it is STILL shocking to find out just how low these institutions can actually stoop in their desire to make profits - at our expense.

    The latest drug-money-laundering allegation that has been levelled at HSBC only serves to support the argument that they simply cannot be left to police themselves and that the regulations that do this are badly needing to be tightened up so that such awful incidences cannot occur.

    Read THIS article and come back and discuss what needs to be done to stop this happening.


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    zathrus
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    Re: ANOTHER shocking revelation about the banks !

    Post by zathrus on Thu 19 Jul 2012, 11:20 am

    Yes, isn't it disgusting what these powerful institutions get away with ?

    Here is the story that I found on it : http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9410109/Senate-gives-HSBC-an-American-nightmare.html

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    Re: ANOTHER shocking revelation about the banks !

    Post by Guest on Fri 20 Jul 2012, 7:42 am

    I think you will find it is merely Brit bashing by the US

    Protectionism is alive and well under the O'Bama administration

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    papa_umau
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    Re: ANOTHER shocking revelation about the banks !

    Post by papa_umau on Fri 20 Jul 2012, 4:09 pm

    SO.... HSBC was NOT laundering drug money for the Mexican cartels then ?


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    Re: ANOTHER shocking revelation about the banks !

    Post by Guest on Fri 20 Jul 2012, 4:22 pm

    It depends how you define money laundering - the transmittal of currency from one account in one country to another in another country is not what I would call money laundering. Whilst I don't know what went on for sure, it appears the OCC (the regulator in America) was working with HSBC on numerous breaches of their regulations but had not flagged anything serious.

    I know when I transfer money by TT I regard the matter as my business and not that of the banks. I am not a drug baron (though I do have a pony tail) and the money laundering regulations are both intrusive and ineffectual. Once I was asked what the money was for and said with a wink 'drugs' - the transfer went ahead with a knowing smile.

    Like I said - this is just another example of drum banging against foreign companies. As BP found out when their American sub contractors f***ed up.

    You should try supporting British industry instead of mudslinging all the time Paps - you never know you might even do some good and encourage employment!

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    Re: ANOTHER shocking revelation about the banks !

    Post by papa_umau on Fri 20 Jul 2012, 4:50 pm

    Maybe we should just wait and see what happens in the courts as - as far as I see it - the bosses at HSBC, that oversaw those transactions, may very soon get their collars felt.

    Banking has never been the same since Ronald Raygun and our Maggie got their heads together and decimated the banking regulations on both sides of the pond. Since then we have stumbled from disaster to disaster because of gratuitous greed and uncontrolled recklessness in a sector that was once above reproach.


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    Re: ANOTHER shocking revelation about the banks !

    Post by Guest on Sat 21 Jul 2012, 9:12 am

    It was going on LONG before them!

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    papa_umau
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    Re: ANOTHER shocking revelation about the banks !

    Post by papa_umau on Sat 21 Jul 2012, 12:32 pm

    Maybe it was Clapco, but it took a global crash for them to be found out and for all of us to see just what they were made of.

    NOW... we are going to find that after all of those scandals the banking regulations that were destroyed by Thatcher and Regan are once again being tightened up to the level where the FSA can truly serve as their effective watchdog once more.

    This another glaring example of the undeniable fact that such entities can not be trusted to police themselves because their uncontrolled desire to make money makes them very bad policemen.


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    riders_on_the_storm
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    Re: ANOTHER shocking revelation about the banks !

    Post by riders_on_the_storm on Mon 03 Sep 2012, 7:47 pm

    Hey, this banks laundering drug cartel money sounded like something I said a few years ago and everyone said ah don't be silly that's a conspiracy!

    So have a look at this from the USA as well, The Federal Reserve got it's first audit and they found $16 Trillion of money printed and distributed to many other institutions, one including the RBS:

    http://www.sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

    This should be worldwide news as it raises a lot of questions about similar practices perhaps being carried out by European and British banks, and collusion with the Fed as well in other fiduciary practices.

    Plus i'll include the rich bashing bit to please you paps!!

    said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."
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    Re: ANOTHER shocking revelation about the banks !

    Post by papa_umau on Tue 04 Sep 2012, 1:16 pm

    Hi again Andrew, and thanks for the valuable input once again.

    Yes mate I am actually quite shocked that this did not hit the news in a bigger way as it is a massive scandal.

    Something tells me, ( always the cynic Twisted Evil ), that the power of these big boys has stymied the so-called free-media quite a bit.


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    Re: ANOTHER shocking revelation about the banks !

    Post by Guest on Tue 04 Sep 2012, 2:31 pm

    The real story in the bailouts is why it was the Scottish banks that got into difficulty not the English (Northern Rock excepted).

    Just how much pressure did Bruin and Darling put on people to ensure their increasing market share and bolster their arguments for an independent Scotland?

    I think we should be told

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    Re: ANOTHER shocking revelation about the banks !

    Post by riders_on_the_storm on Tue 04 Sep 2012, 7:39 pm

    papa_umau wrote:Hi again Andrew, and thanks for the valuable input once again.

    Yes mate I am actually quite shocked that this did not hit the news in a bigger way as it is a massive scandal.

    Something tells me, ( always the cynic Twisted Evil ), that the power of these big boys has stymied the so-called free-media quite a bit.

    Of course they do Paps, they only print and broadcast what they want us to here and see, and thus, in effect, creating our reality for us. That's why I rarely watch TV and don't read newspapers - well once in a blue moon (the other night Smile) to remind myself how bad they really are and what I am not missing

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    papa_umau
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    Re: ANOTHER shocking revelation about the banks !

    Post by papa_umau on Wed 05 Sep 2012, 10:42 am

    Clapco.....

    I often wonder what cave you are living in ?

    It was NOT just the "Scottish banks" that got into trouble as the Scottish banks, just like the rest of the world banks that got into trouble were international banks. In fact, during that period, the RBS was the largest bank below the BOE in Britain at the time of the problems. ( Since then, the CEO, Fred Goodwin has fallen on his sword, just as he should have done ).

    It was the corporate investment sectors, ( along with a few really bad sub-prime mortgage deals ), that brought down so many banks across the globe.

    Andrew....

    I go the other way as far as watching the media is concerned as I think that if we read and watch as many of them as we can we get a better cross-section picture of what is actually happening to us. Mind you, I DO see what you are getting at.


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    Re: ANOTHER shocking revelation about the banks !

    Post by Guest on Wed 05 Sep 2012, 12:37 pm

    As usual Paps you miss the point.

    Not every bank failed - a significant proportion did not run into liquidity problems - Santander, HSBC, Barclays, Lloyds - and yet you blame 'global events' just as your mate Brown did.

    It was crap management that did for the banks. Yes Fred 'fell on his sword' but how many others still remain? And how much did Bruin and Darling know?

    Its you that live in a cave mate

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    Re: ANOTHER shocking revelation about the banks !

    Post by papa_umau on Thu 06 Sep 2012, 12:55 pm

    And then there was the truth.....

    We will never know how many of these "banks" that say they did not get into trouble during that crisis actually did or did not get into trouble as many of them kept their troubles very close to their chests.

    You can be certain-sure that every bank in the world was hit by the collapses that happened in America, Europe, Iceland and Ireland, and you can also be sure that almost all of them were in very difficult situations at that time. To think anything else would be to be very naive.

    To attack the "Scottish" banks in particular is not only a racist and bigoted thing to do but it shows precisely where your thinking-processes lie as you attempt - very poorly - to sort out the problems in your own poorly-working and ill-informed head.


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