atans1

HSBC: Returned to roots

In Banks, Humour on 18/07/2012 at 1:32 pm

As a shareholder of HSBC and shumeone with a barbed sense of humour, don’t know whether to cry, or laugh and commend HSBC.

The present CEO is trying to get HSBC back to its Asian (i.e Chinese) roots, out of adventures in the US and Latin America. Funny thing is that in these places it was returning to its roots. 

HSBC was used by “drug kingpins”, says the US Senate, something the bank agreed with. It will be fined heavily. But in the 19th century it was banker to Jardine Matheson and the other British and Indian drug lords who were selling opium into China.

Great ad slogan, “Trust us.  The Mexican and Columbian drug cartens trusted us”. Or “Banker of choice to the drag barons of East & West throughout the ages”.

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  1. HSBC ‘Sorry’ for Aiding Mexican Drugs Lords, Rogue States and Terrorists
    Executive quits in front of US Senate as bank faces massive fines for ‘horrific’ lapses that resulted in laundering money for drugs cartels and pariah states
    By Dominic Rushe in New York, The Guardian, UK – 17 July 2012
    http://www.guardian.co.uk/business/2012/jul/17/hsbc-executive-resigns-senate

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