HSBC money/opium cult where all crooks go for protection

[TonyGosling]

Argentina was bankrupted by HSBC
September 2, 2019 by IWB
https://www.investmentwatchblog.com/argentina-was-bankrupted-by-hsbc/

A close adviser to the President, Gabriel Martino was a minister in everything but the title. His old disputes with the Kirchner administration might also be behind his exit.

The unexpected results of Argentina’s presidential primaries might take its first victim of the corporate world. After a strong bet to the reelection of President Mauricio Macri, HSBC is considering moving its CEO for Argentina Gabriel Martino to decompress the relationship with Peronist candidate Alberto Fernández.

The Argentinian banker was practically a minister in everything but name, who acted as presidential advisor and had direct access to both the Quinta de Olivos presidential residence and Macri’s private ranch Los Abrojos.

His closeness to the President was such that he was the only banker willing to bet on Macri’s failed PPP infrastructure financing project, an idea that was ultimately banned by HSBC’s regional director. Martino was also behind the election of Pichetto as vice president for the October election and he even helped in the organization of the reelection launching rally.

But what frustrated an elegant exit for Martino was his old disputes with Kirchnerism.

www.lapoliticaonline.com/nota/121258-hsbc-argentina-ousts-ceo-after-ma cris-downfall-in-the-primaries/

[TonyGosling]

HSBC blocks crime victims probe
By Editor -28 April 201611230
https://www.derbyshireindependent.co.uk/news/banking/hsbc-blocks-crime -victims-probe/

HSBC HSBC has refused to disclose its internal targets to repossess houses when owners become victims of serious crime. As part of a wider investigation around victims of serious crime, David Gale has asked HSBC to provide details of its internal targets for mortgage defaults. Insurance policies held by banks, sometimes called credit default swaps, are often a quick means for mortgage lenders to improve their short term balance sheet but they depend on the lender formally defaulting the loan. Gale has received a number of complaints that victims of crime are being unfairly targeted for repossession, as bank employees chase internal incentives and bonuses.

Gale said, “We’ve seen instances of banks offering employees cases of wine and other incentives to hit their default targets. Sometimes repossession can be justified but I’m seeing instances of victims of serious crime not being given the required time to get back on their feet. In circumstances where customers are clearly not a long term risk to the bank, you would have to conclude that the banks are ignoring their wider duty of care and once again abusing their powers for short term financial gain.”

In 2002, Gale flagged up the complicity of the UK courts in concealing evidence of data breaches within banks. “Over a decade ago, I warned of what appeared to me to be a very cosy relationship between the banks, the courts and the regulator. I said then that if the regulator didn’t get a grip of the rogue practices within the financial services sector, the banks would be running out of control. Sadly, my words turned out to be prophetic and still no one has gone to trial.”

In 2012, US authorities defended their decision not to prosecute HSBC for laundering money for drugs cartels and rogue states, insisting that a record $1.9bn fine for a litany of offences was preferable to the “collateral consequences” of taking the bank to court.

Neither the Financial Conduct Authority, the body responsible for regulating UK banks, nor the House of Commons Treasury Select Committee have responded to detailed documentary evidence provided to them by Gale on ‘Repossessions for Profit’. Gale said, “If this is an example of the impact of the new regulatory culture, I think there is some way to go before anyone can say that the banks are being properly held to account.”

19th February 2014

UPDATE – February 2016: We passed our evidence to the US authorities in July 2014
HSBC fined $470m for ‘abusive mortgage practices’. The UK regulators have done nothing…

FOR FURTHER INFORMATION PLEASE CONTACT:

David Gale | Interim Chief Executive | Kids for Cash UK | w:http://www.KidsForCashUK.org

Kids for Cash UK – protecting vulnerable children by exposing paedophiles and investigating criminal corruption in the family justice and social care systems

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