Why we should boycott the greedy, lying scum at HSBC

Most people have now realised that our major banks (HSBC, Barclays, RBS, HBOS) will do anything to get and keep our money. Mis-selling, lying, money-laundering and�tax avoidance seem now to be everyday working practices for staff at our banks who are keen to progress their own careers. But is any of our banks worse than the others? Yes. It’s HSBC. In addition to doing what the other banks do to pocket our money, HSBC ran a whole series of very profitable subsidiaries whose activities can only be described as massive, deliberate fraud. In Britain, HSBC owned the Nursing Home Fees Agency. Their speciality was going round retirement homes and nursing homes, finding vulnerable victims (preferably with conditions like terminal cancers or heart problems) and persuading them to put their life savings (on average �115,000)�into longer-term and risky investments. Many, of course, died before their ‘investments’ matured (as HSBC knew they would) and this allowed HSBC to charge the victims’ heirs massive penalties for supposed ‘early withdrawal’ of the victims’ money. In the US HSBC owned Household Finance – a predatory subprime lender. They specialised in forging documents to allow them to illegally repossess their customers’ homes.

By running these schemes through subsidiary companies, HSBC bosses could rake in the profits. But then if things went wrong and their fraudulent business practices were found out, HSBC bosses could claim innocence by saying they didn’t know what was going on.

HSBC is a Chinese bank. It gets 90% of its profits from outside the UK. The sooner HSBC leaves Britain, stops ripping off British savers and focuses on screwing its customers in the emerging Asian economies�the better. There is strong evidence that HSBC is our worst, most predatory bank and we should boycott it.