williambanzai7's picture


How to run a criminal banking enterprise: STEP1: Make sure you are Too Big To Fail, STEP 2: Be prepared to write huge checks with your shareholder’s money, STEP 3: HIRE FORMER FEDS TO HIGH PROFILE COMPLIANCE POSITIONS!!!! 

BTW: Did anyone notice if their status as a Primary Dealer was revoked or suspended?




The laundry of HSBC
This money is clean as can be
Banks criminal ways
Shows that crime always pays
Move along, there is nothing to see

The Limerick King



“Sometimes there’s a bad apple, yet we denigrate the whole.”--Treasury Secretary Jamie "Big Whale" Dimon December 2011



Oh yes, and there are no rats in the sewer folks!!!

Is it even remotely possible to buy an apple that's not rotten from the fraternity of TBTF banks?

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earleflorida's picture

fantastic... how wb7 nonchalantly opens up a, me` mare's nest boutique, on a desolate canaries wharf-- whist the king'smeow stands not-present in a yellow-race to the bottom of a rice bowl?! go figure?

love your stuff!!!


Joebloinvestor's picture

Next will be CSFB, the favorite bank of the CIA.

Diogenes's picture

Message for William Banzai... the term 1%  always rang a faint bell with me.... finally remembered why. In the sixties and seventies motorcycle gangs were known as 1%ers. So named by the American Motorcycle Association to distance their honest members from the the 1% of hoodlum motorcyclists.

Maybe you can use this if you haven't already.

Herkimer Jerkimer's picture






Whenever I've seen a bushell of apples and there's no rotten ones, I turn over a few. Sure enough, if there's one that's been turned rotten side down, I check a few more and guess what? They're starting to go rotten, too!


Dig deeper and you'll see more rot as you go down into the bushell.


If you don't think one rotten apple spoils the lot, you haven't seen how fast one apple that goes bad, spoils the rest, if it is taken out of the bag and thrown into the garbage.




Frastric's picture

Not even Scarface would work scum like that!

Tango in the Blight's picture

The motto of the Hongkong and Shanghai Banking Corporation:

falak pema's picture

my beautiful laundrette, and my left foot. 

My Beautiful Laundrette (1985) - IMDb 

My Left Foot - film 1989 - AlloCiné

Both great films.

Two that flew over the HSBC cukoo's nest! 

SoNH80's picture

Jim Willie CB knows the "score".  Remington Steele got too cheeky, so Simon & Simon bopped him in the head and threw him into San Pedro harbor.


Fredo Corleone's picture

I told my brother Mike over and over, that only Moe Greene could pull off the drop chain and leisure suit thing.

Bad apples... Mike essentially summed up the blurred boundry between politics and shakedown, when he observed to Pat Geary,

"We're both part of the same hypocrisy, Senator."

laomei's picture

How did everyone manage to forget the second part of that phrase?

one bad apple spoils the bunch

Ah... right, because that would make it harder to pretend it was just an "isolated incident" and sweep it under the rug.

Careless Whisper's picture

The Narco-Industrial Complex runs deep. In 1999 the Colombians were "invited" to invest in NYSE businesses. They declined the invitation; things didn't work out too well for them.

The "Grasso Abrazo" with Richard Grasso and Raul Reyes (aka Sureshot) in an undisclosed secret Colombian location:


Village Smithy's picture

Why HSBC still has even one retail customer left in America is beyond me. We can't rely on big government bureaucratic regulation. The free market only works when we excercise our right to choose. Choose to take your business away from corporations that are unethical.

Jumbotron's picture

Village Smithy said: 

Why HSBC still has even one retail customer left in America is beyond me. We can't rely on big government bureaucratic regulation. The free market only works when we excercise our right to choose. Choose to take your business away from corporations that are unethical.


The first rule of freedom is to free your mind first.  Then your ass will follow.

Even if you had that freedom you desire...just where would you go to put your money where it would not circulate anywhere in the world as an electronic debit or credit so that it would not fall into the hands of an unethical corporation...or bank....or narco-industrial-military-regime ?


You live on Prison Planet.  There is no escape unless you go all in Amish.  And even then....they have to ride those carts into town to occasionaly buy a Chinese made tool...made by slave labor...overseen by a Chinese slave boss....paid with not only money out of your pocket  but your tax dollors to incentivise the American company who allows their name to be stamped on said tool at said slave labor camp in China.


Welcome to the Machine !  (Pink Floyd)

ptoemmes's picture

You would think the shareholders if not also the customers would be all over this - maybe there is still slight hope.  After all THEY are the ones who will end up paying and,l actually, probabaly all of us in the end.

But I suppose as "big" as 1.9B seems it pales in comparison to their market cap of 189B (

Cost of doing business indeed.


williambanzai7's picture

It's not just HSBC. All the big money center dealer banks have been on a crime spree.

Village Smithy's picture

Yes I agree totally. Use your local banks and trusts. That way if they pull stunts like this you can wait for a board member in the parking lot.

ptoemmes's picture

THANK YOU WB7...I only hope this will unlease the Hounds of HELL on HSBC.

Some of the comments here are staggering to me:

Except, of course, those of Bill Black



For the government not to go a step further and prosecute was "beyond obscene," said Bill Black, a former U.S. regulator for the Office of Thrift Supervision who now teaches at the University of Missouri-Kansas City.

"Regulators are telling us, 'Yes, they're felons, they're massive felons, they did it for years, they lied to us, and they made a lot of money ... and they got caught red-handed and they're gonna walk.'"

Black disputed the government's concern that indicting HSBC could take down the financial system.

"That's the logic that we get stability by leaving felons in charge of our largest banks," he said. "This is insane."



NotApplicable's picture

Truth be told, a choke-hold is a fairly stable position to maintain, once you've got a good grip.

shovelhead's picture

And this is why Bill Black teaches in East Podunk instead of Hahvuud.

williambanzai7's picture

There used to be a very simple principle: Don't mess with your regulator.

The meaning of this principle was crystal clear. It didn't matter if your regulator could not technically nail you in court. If you regulator does not like something you do what he says or he or she will make life miserable for you.

The whole balance of the regulatory universe has changed. No one gives a shit what their regulator thinks because he is a toothless pushover who can be assuaged into leniency by collecting a fine.

No one has to fall on their sword anymore. This is why Dimon is still leading JPM.

Bob's picture

Neo-liberal cultivation of "regulatory capture" became official policy in the Clinton administrati

Now there's an army of blindly government-hating zealots bent on nothing but LESS goobermint at any cost. 

It'll get worse before it gets better, imo.

donsluck's picture

How much worse? The economy is grinding down to a halt. I am now growing my own food and spending only cash. No borrowing. Picking up Contracts where I can. Exiting the system has gone from a philosophical act to one of necessity.

Daily Bail's picture


To answer your question, yes, HSBC is STILL on the Fed's list of primary dealers.

Careless Whisper's picture

Everyone else on that list is as pure as the wind-driven snow.


GAAPpreNixon's picture

ONE POINT 9 BILLION DOLLARS IS THE "FINE". Imagine how big the laundry was (IS!). Where are the ASSHOLES complaining about banks whining!!? Isn't it amazing that they only come out here with their word-heavy, content-free BULLSHIT only when medicare and social security "waste and inefficiency" is brought up.

Hypocrites are so predictable.

otto skorzeny's picture

the "Axis of Evil" is starting to spread the US Empirical Army pretty thin. maybe someone will find a chink(?)  in our armor

mjorden's picture

A reference to "Dr. Strangelvoe or: How I learned to Stop Worrying and Love the Bomb" would be fitting ... 

Bob's picture

Hell, according to Bill Black, the DOJ actually holds workshops on how to eliminate prosecution for your financial crimes:

MajorWoody's picture

I told them I was sanitation, just like you said boss.

buckethead's picture

What bank does the Csea Ieye Ahay use to launder it's drug money? N/M... I know that answer.

Stud Duck's picture

I wonder if most people know that the BC in HCBC is Bank of China???? No mention of that in any comments in the MSM!

SoNH80's picture

It was set up by the British in Shanghai, when it was a colonial outpost of the Western powers & Japan.  I wouldn't be surprised if the Red Chinese now own a stake of some kind, either through a tycoon or a State Owned Enterprise/Sovereign Wealth Fund.

john39's picture

opium war blood money...   banks are thug criminal enterprises disguised as businesses.

SoNH80's picture

Yes.  Millions of lives ruined, millions of Pounds made.  Many blue-bloods in Boston and NY still brag about their ancestors' role in the "China Trade" aka pushing drugs in exchange for tea and pottery.  Kennedys peddled bootleg liquor and were close friends with Sam Giancana. Brown of Brown University made his bucks slaving.  The Venetians were slaving scum as well.  An old story.

donsluck's picture

Legalize it all and spend the billions saved on treatment programs.

Anglo Hondo's picture

You mean HSBC isn't the Hong Kong & Shanghai Banking Corporation?  Never knew that...


Vince Clortho's picture

William, you have given a whole new meaning to "save the whale".

mendolover's picture

Must be the new attitude courtesy of the war on drugs.  If you can't beat 'em, join 'em!

GAAPpreNixon's picture

Central and Broker Dealer Banks have a new name:


Stackers's picture

Well it's not like HSBC was founded almost 150 years for the sole purpose of laundering illegal drug running money into railroads and shipping (ever heard of P&O Shipping?) .......... oh wait ....

Agent P's picture

"God bless us, everyone...well, except for you poor people."

trichotil's picture

if only there were some unifying pattern to be discerned from situations like this....nah, the problem must be those guys that forbid usury.