February 11, 2015

HSBC Documents Reveal Criminal Conspiracy of Banks and Governments

No one should believe that HSBC is an aberration; there is no doubt that similar practices are carried out by all major international financial institutions. The HSBC files have unearthed a cesspool of corruption, criminality, bribery and collusion that pervades the entire capitalist system and the governments that defend it.
The HSBC revelations are only the latest in a series of scandals involving virtually every major financial institution. These have included the selling of fraudulent subprime mortgage-backed securities, illegal foreclosures, commodities fraud and the manipulation of LIBOR and international foreign exchange benchmarks.
HSBC was one of the institutions whose greed and lawlessness plunged the world into a crisis in 2008 from which it has never recovered, cost millions of people their jobs and launched a wave of austerity all over the world involving the slashing of workers wages’ and social benefits.
For the global financial elite, the line between “legitimate” business activity and political donations on the one hand, and fraud, theft and bribery on the other, does not exist. Capitalist society is run by thieves and criminals, who see the law as a minor inconvenience. In the immortal words of Leona Helmsley, “Only the little people pay taxes.”
***Read full article here***
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2 comments:

  1. >Leona Helmsley, “Only the little people pay taxes.”

    What she really said was, "Only the goy pay taxes."

    ReplyDelete
  2. Leona Helmsley was born Lena Mindy Rosenthal in Marbletown, New York, to Polish Jewish immigrants.

    ReplyDelete


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