HSBC – Another banking scandal

The banks still haven’t learned. The bankers believe they are above prosecution because of their connections in the political world. Tax cheats should be prosecuted in the same way as conventional criminals. See the following story – Revelations of collusion with wealthy and criminal clients in tax malpractice triggers furious response around the world.

If you read this article, you will see whilst many countries have prosecuted people who have avoided tax, obtained the full amount in avoided tax, and named names the UK has done sweetheart deals with the British tax avoiders, which mean that even their names have been kept out of the news, presumably because most of them are Conservative voters. I wonder how thoroughly the government vetted HSBC’s long-serving chief executive and chairman Stephen Green before appointing him trade minister in August 2010. Yes, that’s right the Conservative / Lib Dem government appointed the man, who was running HSBC when the tax malpractice was occurring, as a minister!