Friday 17 August 2012

when it comes to Iran, banks must follow the law

"how do we do that, Ned?"
pPppppffFffftttt, Haha!

below, you will see a real, live stock broker
complaining about the bank where he socks away
his money because,
and wait for it....
they're breaking the law.
Since when do banks follow any laws?

Move your money to a cooperative or and credit union.
but , being that he's an ex-broker, losing a couple of 
million really won't matter.

chuckle away: Reformed broker
What the hell is going on at HSBC?
    Joshua M Brown
    July 17th, 2012
Full disclosure, I bank at HSBC, so none of this is funny to me.
This is the bank you almost never hear about in the news except when they release economic data like their Chinese Flash PMI reports.
Now, they're being grilled by the Senate and even their charter to operate here in the States is being threatened.  What the fuck are these maniacs doing?
From IBT:
    HSBC's head of compliance David Bagley told the US Senate committee he will step down after investigators released a damning report detailing more than a decade of lax controls and linked Britain's biggest bank to money-laundering, terrorist funding, tax evasion and financial ties to Iran that violate US sanctions.