3 votes

Cayman Islands has revoked the banking license of HSBC (for money laundering)

More proof that crooked bankers always manage to stay rich and get richer, while the taxpayers are called upon for a bailout or outright theft from savings accounts. But these bankers are earning in the millions plus perks.

Meanwhile back at the ranch, the world is told to prepare for austerity measures, also known as hard work, hunger games, poverty, and the police state.
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"This follows recent reports that HSBC has handed million-pound pay packages to more than 200 staff in a year that saw it fined £1.2billion for money laundering.

According to the British press, Stuart Gulliver, who is the UK bank’s chief executive, picked up £7.4 million in pay and perks as a reward for bumper profits. Similar seven-figure payouts went to 78 of his British-based staff.

Campaigners said the massive sums showed the ‘culture of entitlement was alive and well in the city’.

HSBC’s profits for 2012 hit £13.7billion – more than 10 times the amount it was fined for its US and Mexican operations channeling money for drugs cartels...and also for laundering funds of sanctioned nations including Iran and Sudan."

http://caymannetnews.com/2013/03/08/cima-revokes-hsbc-mexico...
http://www.compasscayman.com/caycompass/2013/03/13/Regulator...