HSBC UNDER BARON GREEN: Senate sub-committee releases the full strength of criminality

Wrongdoing at HSBC was no innocent mistake. Green ‘warned in 2005’

Following yesterday’s Slogpost on the subject of Tory Trade & Investment Minister Stephen Green’s time in charge of HSBC’s money laundering, tax-evading crooks clients, has been inundated with helpful snippets, hints and inside stuff on the workings of the bank during its Mexican Marching Powder, Russian Mafiosi, and Swiss Fraudster years.

A classic example of this is a UK gamekeeper turned poacher who sent me this pertinent advice:

“I was an HM Inspector of Taxes for 12 years and involved in prosecutions.  I have been defending the stupid and guilty from HMRC for the last 16 years….HMRC would much rather take in cash than prosecute anyone.  You have to be really stupid or very unlucky to get prosecuted by HMRC.”

And judging by the MSM yawn that followed yesterday’s piece, any chance of being collared by Her Majesty’s Rapist Conmen dives rapidly if you are an arse-licker at Dave’s Camerlot Court. Remember: the City of London Police are the lead investigators of financial fraud in the UK. The CLP are answerable to the Corporation of London. The Corporation of London is controlled by City firms. The banks employ by far the most people in the city of London.

And of course, Stephen Green is central to maximising trade contacts and investment opportunities via the Olympics.

Yes, as usual it’s all about the munnneeeeeeee.

But this is not always so in the US – believe it or not: astonishingly, there are still operatives in the FBI and the IRS who take the Eliot Ness view of lowlife….when allowed to by the corrupt Congressional elites. So they’re in luck on this issue, because the Senate Permanent sub-committee on Investigations met yesterday, and scrupulous Senator Carl Levin expounded in detail on the “extensive money laundering activities” of HSBC.

The outline evidence against the Green Baron’s Bank makes a nonsense of the apologist charge that this is all a minor distraction, and part of some ill-defined global conspiracy to pin the blame on an innocent naif.

The Senatorial study makes clear that, while many other banks may have been engaged in similar practices, it appears that HSBC facilitated money laundering on a global scale that vastly surpasses other banks”.

Some particular extracts are of especial interest:

“HSBC’s Mexico bank, HBMX, was treated by HSBC headquarters in London as a low-risk correspondent bank with HBUS, despite the fact that Mexico is a hub of drug money laundering for all of South America. HBMX provided services to other Mexican banks and casas de cambio, as well as to Cayman Island banks that maintain secrecy jurisdictions. In 2007-2008 alone, Levin told the reporters, $7 billion in physical dollars were transported from HBMX to HBUS. An official of HSBC’s Mexico bank, HBMX, conceded that he believes that 60-70% of all of the drug money laundered from Mexico into the U.S. comes through HSBC.”

Baron Green of Hurstpierpoint had a special responsibility, above and beyond his Chairmanship of HSBC Global, as a director of HBMX.

Also emerging from the Committee’s report are damning details of amoral blind-eye turning in relation to Arab terrorism and the Russian Mob:

“HSBC enjoyed correspondent banking with Al Rahjid Bank in Saudi Arabia, a bank long associated with Al Qaeda both before and after the 9/11 attacks. HSBC also facilitated banned banking transactions with Iran, under an exemption referred to as ‘U-turn transactions’. It further allowed a small regional bank in northern Japan to process billions of dollars in travelers cheques for Russians suspected of being mafia front men.”

So clearly, we aren’t looking at unconsciously careless banking here: only a complete idiot would’ve failed to spot massive deposits and withdrawals in Mexico without realising drugs were involved…and Stephen Green isn’t an idiot. Further, you don’t engineer U-turn deals with a rogue State by accident. Nor can a clerical error explain the calculated choice of a low-profile provincial bank in Japan as the vehicle for laundering Russian mafia money.

There is on the surface (and even below it, I would contend) the same level of credibility problem in this trail of criminality as exists when Bob Diamond, Marcus Agius, Paul Tucker and Mervyn King maintain they knew nothing about Libor rigging. Yet the enervating apathy of the British MSM as regards these revelations (with a big hat-tip to the Telegraph this morning, which nails when Green knew about the skullduggery) has surprised even me. Backbench Labour MP John Mann, who sits on the Treasury Select Committee, has called on Green to quit: “Someone whose bank has been assisting drug cartels and corrupt regimes should not be in charge of a government portfolio,” he said yesterday.

But as ever, the Labour Party under the tentative leadership of Ed Miliband has yet to endorse Mann’s resignation call. “Stephen Green has serious questions to answer,” is the sum total of shadow Treasury minister Chris Leslie’s sense of outrage.

Lest we forget, the Ed Miller Band was gutless bordering on legs-akimbo when the first signs of Newscorp depravity filtered into the mainstream media. Highgate Man is displaying the same degree of cynicism about this case.

“Your help in tough times”? What a load of old bollocks. To be a friend indeed to voters in need, you have to show some courage. Where is the courage required in the Labour Party and the UK’s investigative media?

It’s been a week of silence on the presence of Islamic terror apologists at the heart of the London Olympics, and blackouts of bad news. And now we have lots of media folk looking the other way on the issue of a suspected bank cheat at the heart of Camerlot business development.

It’s been a year of obfuscation in relation to Andy Coulson, Rebekah Brooks, James Murdoch, Newscorp bribery, Jeremy Hunt’s bias in favour of the BSkyB deal, Coalition policy on the EU, Michael Spencer and Michael Fallon as Libor brokers….and now Baron Green as the former ruler of a bank guilty of pernicious malfeasance on a grand scale.

The common factor in all those names is the protection offered to them by UK Prime Minister David Cameron. As for his main Tory opponents on the Tory Right and the 1922 Committee, we hear not a peep of disapproval about any of this. Thus are the moral ranks in Britain forced to assume that this is perhaps the one dimension of Camerlot they accept and embrace.

So to sum up: the Establishment Right offers no critique of crookery, and the Establishment Left lacks the bottle to condemn it uneqivocally.

I cannot think of a better rationale for being a radical realist desirous of clearing all of them out.

See also: Dreaming is good, sleepwalking is bad

45 thoughts on “HSBC UNDER BARON GREEN: Senate sub-committee releases the full strength of criminality

  1. Evidence is strenghtened by seeking statistical co-relationships. We have here in this slog and others plenty of comment to show that in the last 7 or so years Cameroons (taught by Michael Green ex of Carlton TV) how to grab and nurture those who have power, wealth and a requirement for the fruits of greed. Just like Blair before this entire mess needs clearing up, and a new look political entity will arise across the world. Let us just try to make sure it is not an authoritarian force


  2. Pingback: John Ward – HSBC Under Baron Green : Senate Sub-Committee Releases The Full Strenght Of Criminality – Wrongdoing At HSBC Was No Innocent Mistake. Green ‘Warned in 2005′ – 19 July 2012 | Lucas 2012 Infos

  3. The bottomless cesspit of filth that these scumbags swim in. I would hazard a guess that these latest revelations would pale into insignificance should the whole truth be known.
    And again, there’s no real consequence to their actions, they behave with impunity.


  4. WHO IS THE ODD MAN OUT – and more importantly – WHY??

    Lord Stevenson: FORMER chairman, HBOS

    Sir Fred Goodwin: FORMER chief executive, RBS

    Andy Hornby: FORMER chief executive, HBOS

    Sir Tom McKillop: FORMER chairman, RBS

    John McFall MP: FORMER chairman of Treasury Select Committee

    Alastair Darling: FORMER Chancellor of the Exchequer

    Gordon Brown: FORMER Prime Minister and former Chancellor of the Exchequer

    Sir Terry Wogan: FORMER presenter of Radio 2’s Breakfast Show

    IF you’re thinking Sir Terry Wogan, then you’re right.

    However, the reason may surprise you…

    Terry Wogan is the only one out of this motley crew who actually holdsANY formal banking qualification.


  5. They behave with impunity because we let them, kfc.
    And bizarrely, we regard with disdain the likes of the Occupy-ers and Roger Hayes, people who are standing up to be counted, people who are fighting for some of the things we´re fighting for.
    This is no longer a case of left and right but right and wrong.


  6. “So to sum up: the Establishment Right offers no critique of crookery, and the Establishment Left lacks the bottle to condemn it uneqivocally. ”

    That’s cos they’re all in it together.
    All we can do is peck away and see if the whole edifice collapses.

    I’ve written to my own MP to make sure he knows we know. I could write the reply I’ll get myself as I used to work in the excuse making field ( Customer complaints) but it helps me a little. Write to yours, they’re still takin’ the Pi**


  7. nice one…..i always suspected these jokers dont have a qualification between them……..along with most of the banking fraternity……


  8. They may be. But these are the published four largest:
    Prudential: 89,325,538 (6.33%)
    Harris Associates: 69,584,044 (4.93%)
    BlackRock, Inc. : 70,751,402 (5.02%)
    Legal & General Group Plc: 42,320,310 (3.00%)


  9. There’s a reason we are getting soft martial law under cover of the Olympics. It is not to protect the athletes nor to keep us safe from terrorists.


  10. On a lesser note today is the story of the Middleton family illegally cashing in on the Olympics. What price all the inspectors who control any infringement of the sponsors `investment`?
    Who thinks anything will be done about it?
    Not me squire.
    The law is for the little people.


  11. Britian’s political class – a shower of mendacious, money laundering mass murderers. It’s only the deeper corruption of the media, and the craven venality of disciplined intellectuals that’s keeping them justice.


  12. So which banks in Mexico does the US think have not been involved in handling notes with a hint of white powder on them?

    Or is it just that being a big bank with far far more transactions means it’s more likely that some of those transactions may have been the result of unregulated and untaxed business? Are we now going to accuse every bank who cashed an MP’s expenses cheque of being involved in money laundering?

    Face up to reality – it’s a crooked world and always has been.

    Caveat Emptor sound familiar?


  13. Pingback: IMF calls for cut in dole payments - Page 34

  14. The City of London is NOT part of the United Kingdom. It is an independent, privately owned, corporation. If the Queen visits the Mayor’s city, she is met by him at the perimeter “Temple Bar” and has to be given permission to enter, as she would any other sovereign state.


  15. I watch the US media and blogosphere as well as the UK. And I observe the same reluctance over there to investigate the oddities in Mr Obama’s past. I don’t believe that the media on both sides of the pond are in some grand conspiracy. But I do think there are a load of placemen and light-weights in positions of authority, and junior ranks who don’t want to wreck their careers by going against the flow.

    In the longer term – I also blame a couple of generation worth of poor-to-mediocre education that has left many 30-40 year olds bereft of a genuinely enquiring mind, with “nanny-state” baked into their DNA.


  16. …and in other shock news: Chelsea FC bought by Russian crook!

    Meanwhile the Cameroons have sold Lloyds branches to the CoOp. I guess you approve of that JW? Oh no, I forgot, you have a downer on everybody and everything. It really is a drag.


  17. I don’t think the common factor in MSM silence on a range of scandals you mention is due to protection of wrong-doers by David Cameron.

    Looking back, exactly the same thing happened (often far worse) under the last Labour Govt…where the list of scandals involving Blair/Brown and many others which were not exposed by MSM would stretch from here to eternity. Remind me again of how much taxpayers money was burned in Labour’s failed NHS computer systems! Hardly a murmur from MSM on this waste of ~£22 billion. How many £billions were burned when Brown introduced Family Credit tax bribes?

    IMV it is not the individual but the Government that scares the pants of MSM exposures of scandals in high places.

    When a scandal emerges and MSM realise it goes right up the power-line (eg Libor rigging which sucks in Brown/King/Tucker/BBA/FSA et al) nobody wants to be out front exposing it for fear of revenge by the Establishment. They’re much happier to let it pass or join in after someone else has taken the plunge. And this is one reason why the Establishment hates the Internet because it’s often a Blogger or foreign MSM that takes the plunge because they’re out of harm’s way.


  18. And chopper machines – one’ll do ! Somewhere central which is cheap to get to for the public display of these sh1tes wetting themselves in public !


  19. Funnily enough – I have been raising this question across the Blogosphere over the last few days………


  20. Hys

    in a world where certification is paramount in getting a first job, is it any surprise that education has bent itself to providing this? Once you have certificates for a job, you then need experience (which usually disproves everything you learned for the certificate). With that you have a career.

    When security of employment is important for getting such things as mortgages and so on, a career becomes a necessity.

    Of this are enquiring minds stilled.

    The dissonant voice is cast aside, seen as rebellious and disturbing. That this very dissonance might show them a door out of their own narrow featureless corridor that is their life, becomes then the more painful. They will be fought against with ever more vigour the closer they come to disturbing that bleak tranquility. The very thing that will show them the light is smothered by the darkness of their own fear.


  21. As for Red Ed Milipede & Co holding fire…that’s probably because they have to investigate ‘internally’ to see whether they are also implicated in a scandal. eg: the HSBC (and other banks) money laundering antics was all carried out while they were in government. Did they not know about it? ho-ho.


  22. One example that comes to mind of MSM fear were the expenses submitted by one Mr Gordon Brown as Chancellor whereby he reclaimed cleaning costs for his brother’s home. Everybody knows that he was defrauding the taxpayer like so many other MPs at the time, but MSM gave him a very east ride. He got away with it, as did many other MPs.


  23. @Gemz: Yes that’s it but also many MSM journos (or their employers) are themselves supporters of one political party or the other. The BBC and many in Sky News are private supporters of the Blair era…but have to keep it quiet due to the broadcasting laws.


  24. BT
    Usually a journo does not have the freedom to express their own ideas – AEP of the Telegraph is quite clear on this. They are there to express the political line that the house takes.

    That one will side with one side and another with the opposition is both historical and profit driven. They say the things that sell the most money to the people who read their papers. That is not a good start if you want to understand what is really going on. That is, after all, why we are here.


  25. And the occupy crowd are somehow right in what they’re demanding?
    Too damned right I have total disdain for the “occupy” morons, as well as this lot of crooks. In your criteria of “right and wrong” neither of them are anyway near right.


  26. Jon, your tendency for short, sharp offerings that enjoy an astuteness absent from some of the others commentators is applaudingly consistent and not unnoticed.


  27. Terry Wogan made you weep tears of joy? Methinks your pleasure sensors are set inordinately low….


  28. Pingback: IT’S A CAMERONATHON: 3-in-a-row at The Slog as Dave’s mate Baron Green gets a tad twitchy about Dark Stars | The Slog.

  29. Pingback: John Ward – It’s A CameronMarathon: 3-In-A-Row At The Slog As Dave’s Mate Baron Green Gets A Tad Twitchy About Dark Stars – 28 January 2014 | Lucas 2012 Infos

  30. Pingback: John Ward – From The Archives : David Cameron, Lord Green, And A Scandal Waiting To Happen – 13 February 2015 | Lucas 2012 Infos

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