…a Heinous & Sinful Banking Corporation [HSBC] that it is… with a series of immoral and criminal acts for the past 150 years, it seems not to ever end and as a Too-Big-To-Jail bank, it got away each and every time with only meager fines…will it gets away this time?
…the mood has darkened at its 45-floor headquarters in London’s Canary Wharf. With its public reputation already battered by a tax-evasion scandal at its Swiss private bank, HSBC reported a sharp drop in pre-tax profits on Monday that sent its shares tumbling.
How serious is this for the bank that will this year celebrate the 150th anniversary of its creation in Asia — the region that still generates the vast majority of its profits?
|US subpoena adds to HSBC’s burden|
|Justice department investigating multiple banks for possible manipulation of precious metals market|
|HSBC chief says bankers face double standards|
|UK government promised a legal crackdown on banks that facilitate tax evasion|
|Chief offers explanation for Swiss account|
|Gulliver says there was no tax benefit to Panamanian structure|
|HSBC and problem of managing mega banks|
|Pinning responsibilities on bosses is a way to check pointless scale|
|UK to run after banks that aid tax evasion|
|UK chancellor plans penalties on financial professionals that collude with dodgers|
|HSBC responds to criticism of Gulliver|
|Bank issues statement regarding chief’s domicile and his Swiss account|
|HSBC shares drop as profit falls|
|Earnings slip comes as chief executive is pulled into tax scandal|
|Takedown of Gulliver is tricky business|
|Populist-minded glimpse into HSBC chief’s personal finances carries ethical snags|
HSBC Chief Defends Swiss Bank Account Worth $7.7 Million
LONDON — Already forced to apologize for helping clients hide their income from tax authorities, HSBC had to explain on Monday why its chief executive went to lengths for years to hide his bonus, at least from his co-workers. – New York Times