Saturday, May 14, 2011


The Feds are closing in on HSBC in money laundering probe. The Justice Department's money-laundering probe against banking giant HSBC Holdings Plc is looking at possible prosecution of individual bankers, a source close to the investigation said on Thursday.

IMO: RBS was noticed, as were most of the other UK banks. HSBC has recently referred to itself as an "international" bank but it now seems no better than Wells Fargo, Wachovia, and all the rest. Most people had long ago lost much trust in Middle East and Chinese banks, and clearly HSBC now seems no different to all the rest. Hopefully some of these rogue bankers will be adequately dealt with by the law. The general public have really had too much to put up with by now.

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