HSBC: How Simple Became Complicated, ...

HSBC: How Simple Became Complicated, and costly

There are 10 comments on the Reuters story from Dec 12, 2012, titled HSBC: How Simple Became Complicated, and costly. In it, Reuters reports that:

HSBC takes its name from its roots as the Hongkong and Shanghai Banking Corporation, but there has long been a joke inside and outside the firm that the name stands for "How Simple Became Complicated". That complexity in part explains how the London-based bank ended up with the biggest fine ever imposed on a financial firm by U.S. regulators on ... (more)

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“Open your eyes”

Since: Sep 09

Central Florida

#1 Dec 12, 2012
They got fined $1.9B. Chump change for a bank that has over $50T exposure in the derivative markets.

“never trust anyone be sure 1st”

Since: Dec 12

Location hidden

#2 Dec 12, 2012
Kahoki wrote:
They got fined $1.9B. Chump change for a bank that has over $50T exposure in the derivative markets.
wow thats alot can I contact u on email?
Ninthman

“Obama Shames the USA”

Since: Apr 09

Location hidden

#3 Dec 12, 2012
If the banks are owned by the government, aren't we just fining ourselves?
Just another Obama pillow fight. The stupids will eat it up, no doubt.

“never trust anyone be sure 1st”

Since: Dec 12

Location hidden

#4 Dec 12, 2012
if they had a chance sure

“Open your eyes”

Since: Sep 09

Central Florida

#5 Dec 12, 2012
Ninthman wrote:
If the banks are owned by the government, aren't we just fining ourselves?
Just another Obama pillow fight. The stupids will eat it up, no doubt.
Actually it is the other way around. The banks own the government.

Perfect example is to look at the campaign contributions of both parties. Always hedging their bets and in the top five are Goldman Sachs, JP Morgan, CITI, etc..

The look at the cabinets.

1. Robert Rubin and Larry Sommers under Clinton (both of Goldman Sachs)
2. Hank Paulson under Baby Boy Bush (former CEO of Goldman Sachs)
3. Chuck Daley, former chief of staff under Obama (Executive Board of CITI)
4. Special Advisor Larry Sommers under Obama (executive of Goldman Sachs)
5. Treasury Secretary Tim Geithner (Former head of the Federal Reserve Bank of NY)
6. Republican Presidential candidate Herman Cain (Former head of the Federal Reserve Bank of Kansas City)
7. Elaina Kagen SCJ appointed by Obama (consultant and advisor at Goldman Sachs)
8. Mario Monty the Italian Prime Minister (VP of International Relations of Goldman Sachs)
9. Member of the FMOC Jamie Dymon (CEO of JP Morgan)
10. Obama campaign fund raiser, former Gov of NJ, former Senator of NJ John Corzine (Former CEO of Goldman Sachs and MF Global)

You should get the picture now. But you can keep going and going and going.

The house, the Senate, the Executive, all bought and paid for by the same banking interests. It's a big club and we ain't in it.
Don Joe

Saint Paul, MN

#6 Dec 12, 2012
Ninthman wrote:
If the banks are owned by the government, aren't we just fining ourselves?
Just another Obama pillow fight. The stupids will eat it up, no doubt.
You have it backwards. The banks own the government.

“Open your eyes”

Since: Sep 09

Central Florida

#7 Dec 12, 2012
Kahoki wrote:
They got fined $1.9B. Chump change for a bank that has over $50T exposure in the derivative markets.
Correction on my numbers. CITI is exposed on $50T on derivatives. HSBC is exposed on $4.32T.

Still compared to the $1.9B they had to pay. That is chump change.
Ninthman

“Obama Shames the USA”

Since: Apr 09

Location hidden

#8 Dec 12, 2012
Don Joe wrote:
<quoted text>
You have it backwards. The banks own the government.
You might be right. It's all a kabuki dance for the benefit of the fools amongst us..
Otis B Driftwood

Medford, NY

#10 Dec 13, 2012
Americans have been Shanghied by Obama too.
Josh Martin

UK

#11 Dec 13, 2012
I couldn't agree more; the banks are the ones who own the government and the government is completely under their thumb. The only we can get around this is if we, the public, work hard at bringing down the banks and at choosing banks which aren't your standard high street bank.

Josh
http://www.privatefantasylive.com
Top UK Glamour Models are waiting to perform your ultimate fantasy

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