Naive is an understatement
This is up there with buying a farm in Afghanistan only to be surprised to find out someone is growing opium on it when your backs turned.
Really how do these people get and keep their jobs?
They seem so bloody stupid.
I am not in charge of a company and have never been but I would hope I had the sense to always ask the obvious questions.
"Mexico, that's the one with all the homicidal drugs gangs right?"
"ok, best keep a close eye on that then"
"oh just a hunch, call be over cautious"
There are homocidal drugs gangs in almost every country in the world.
At least HSBC hasn't cost us tax-payers any money.
oh thats ok then
You may feel worked up about it but they are not the only ones doing it i'm sure.
back in the 80's the U.S.A /CIA /ARMY had the famous contra scandal where they sold weapons in return for drugs( simplified version) only when the cover was blown did everyone get irate.
Now first I am not calling you Naive but everyone likes to believe the law makers /moneymakers movers and shakers are playing by the rules. In that naive state law breakers and lack practices flourish and shock and horror at their wrong doing become the order of the day. We all need to ask more questions and pay more attention to what goes on around us rather then wrapping our selves up in our own small worlds and becoming naive to the real state of things.
This is not a criticism of you but of everyone including myself because we all at some time would rather not have to think about these things, just pretend the right people must be doing the right thing some of the time.
So ends my rant .
Bet they knew what was going on and if anyone was going to profit they wanted a share.
What IS surprising is that has happened after the Wachovia Bank scandal! Banks have had nearly 4 years to sort out their anti-money laundering procedures, and have the huge example of Wachovia who also got in trouble for (enabling) money laundering from Mexican drug deals. You'd think that a bank like HSBC that makes such a big deal of its global connections and understanding of local markets would be a bit more savvy about what is going on in Mexico!
Its not that they took all sorts of precautions but were still caught out by clever devious drug lords. Its that they didnt even think about it and were surprised.
I really dont want an unworldly bank manager
Please they wern't surprised ,these bankers are also clever devious people who know how to line there own pockets. The only surprise was to themselves that they got caught.
With big bonuses at stake golden handshakes at retirement they went for the see no evil hear no evil line . These people do not care about you,your fiends or family . As for four years to sort out money laundering procedures please why would they do anything more than a token effort to appease a few moderators.
It is not in their interest to regulate themselves to a higher degree. To think these guys are more honorable than drug barons and street dealers is a big mistake just because they have good educations and work in the city is no guarantee of higher morals and standards .Unworldly no , naive no, they knew that their Mexican clients who posted profits year on year were not legit . Their own bank accouints are all that matters.
Yet its the public sector that is accused of being full to the brim with lazy, feckless, money grabbing do nothings with huge pensions, and job security those in the private sector can only dream of.
Please give me a break.
I agree that many in the the public sector are under paid. However it would also be naive to think that there are not those that wish to only see themselves right by way of promotions and wage increases/ bonuses to the detriment of service standards and staffing levels.
Also I never suggested the public sector was full of lazy, feckless money grabbing do nothings. Many a nurse I know would be horrified at that sentimentand and rightly so.
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