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Wednesday, 24 April 2013

Criminal activity pays.........................for some people.


http://www.huffingtonpost.co.uk/2013/04/23/hsbc-job-cuts_n_3137835.html?utm_hp_ref=uk

 HSBC To Axe Over 2,000

 


HSBC the bank run by some shady management, who qualified for huge bonus payments into their personal accounts, being the same bank who admitted money laundering and other criminal activities. HSBC who were fined (or agreed to pay US authorities) $1.9bn (£1.2bn) in a settlement last year, and now faces new accusations of illegal activity in Argentina for using "fake receipts" to facilitate money laundering and tax evasion.
HSBC this week, announces job cuts impacting on thousands of its staff, over the "changing nature" of the business as well as regulation.
Another example of corporate crime providing financial reward for the top management and redundancies for people who work there.