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HSBC Holdings plc Message Board

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  • joeytheghost joeytheghost Dec 10, 2012 6:42 PM Flag


    Concur most adamantly. Just one minor correction, the fine does not come out of bank funds but the pockets of the stockholders. At one time I owned a small supermarket in the inner city and unknown to me a cashier was "laundering" EBT (food stamp cards), I was sanctioned and could have been sent to jail over a $12,000. "fraud". Now, I have the unfortunate problem of being Italian; if I had an Oxford don accent I probably would have been given a total pass and a government grant.

    The "fine" that HSBC will pay amounts to a rounding error practically and here is an "ally" laundering $$ for terrorists and drug dealers. Until "executives" get "hard time" in a Fed-Max prison this garbage will continue. The only reason I would oppose revokation of their charter to operate in the United States would be the harm done to share holders.

    Sentiment: Strong Sell

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