Retail vs Investment Banking

I’ve no idea what long term this change will make, but was delighted to receive this notification from my UK Bank,¬†first direct, and HSBC subsidiary. Something we are (very) unlikely to see here in the US in the near future. What is says is We wanted to let you know that in line with new regulations introduced after the global financial crisis, later this year HSBC will be changing the way it’s structured in the United Kingdom (UK). The new rules mean all banks with deposits of UKP 25bn or more will have to keep their “retail banking” business seperate … Continue reading Retail vs Investment Banking

insidious greed – HSBC

If you’ve not been following along today, it’s well worth reading back through the BBC Business Live News feed on the HSBC Tax Avoidance scandal. It is indeed the perfect example of the sort of insidious greed that is destroying society today. It’s not just the “me” culture that is all around us, but the industry and culture that is behind it. Rather than pay taxes now, there is a whole industry on tax-avoidance. It’s become an accepted practice, mostly illegal, certainly immoral and to deflect interest in their actions, just like with the bully at school, they deflect criticism … Continue reading insidious greed – HSBC