Search Results for: hsbc

How Dare DOJ Insult HSBC’s Crooks as Less “Professional” than Liberty Reserve’s Crooks?

By William K. Black Standard Chartered and HSBC’s leaders must be doubly humiliated by the description by Mythili Raman, the acting head of the U.S. Department of Justice’s (DOJ) Criminal Division, of Liberty Reserve’s money laundering operation.  UK laws are, … Continue reading

Did Obama and Cameron require HSBC to aid the prosecution of Tax Frauds?

By William K. Black (Cross posted at Benzinga.com) I have explained in prior columns that HSBC is not only a criminal enterprise, but also a recidivist of epic proportions.  The U.S. and the U.K. have refused to prosecute not only … Continue reading

Why did Obama and Cameron save a Criminal Enterprise like HSBC?

By William K. Black Why is HSBC still in operation?  On the same day (December 10, 2012) that the Obama administration leaked the story of the HSBC settlement a story ran in the New York Times that was full of … Continue reading

The Most Dishonest Number in the World: LIBOR

By William K. Black The FDIC has sued 16 of the largest banks in the world plus the British Bankers Association (BBA) alleging that they engaged in fraud and collusion to manipulate the London Inter-bank Offered Rate (LIBOR).  BBA called … Continue reading

Essays in Monetary Theory and Policy: On the Nature of Money (10)

By Brian Hartley* Modern banks are professional arbiters of financial IOUs secondary to that of the state or issuing authority. Central bank liabilities – reserves – form the most liquid and foundational instrument in the hierarchy of money, with intermediate … Continue reading

Assad Reveals He’s a Bank CEO: Obama Ends Threats, Bails Out Syria & Grants Immunity

By William K. Black I do not think the twin epidemics of mortgage loan origination fraud (appraisal and “liar’s” loans) and the various epidemics of post-origination fraud by financial institutions are comparable crimes to the use of chemical weapons.  The … Continue reading

Mueller: I Crippled FBI Effort v. White-Collar Crime, My Successor Will Make it Worse

By William K. Black (Cross posted at Benzinga.com) FBI Director Robert Mueller is taking his victory lap as he steps down after 12 years of service.  I have done three articles in a series that explains how the Mortgage Bankers … Continue reading

The Next Chair of the Federal Reserve Must be a Regulator

By Robert E. Prasch* If we go by the rumors circulating in the financial press, the Obama Administration is on the verge of selecting a proven failure – Lawrence Summers – to be the next Chair of the Federal Reserve System. … Continue reading

The New York Times Butchers the Story of How Treasury Got NPR to Censor My Criticism of It

By William K. Black We have further proof about how thin-skinned Treasury Secretary Geithner was, but we have it in the form of a weird May 29, 2013 story by Ben Protess in the New York Times.  The story is … Continue reading

Goldman Sachs Proof that God hates its Customers

By William K. Black The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, says he believes banks serve a social purpose and are “doing God’s work.”