The Plastic Hippo

June 11, 2015

Good riddance

Filed under: Law,Politics,Society,World — theplastichippo @ 2:00 am
Tags: , ,
Not 911 via Reuters

Not 911 via Reuters

There was a time in this sceptred isle when bank managers were considered to be fine, upstanding pillars of society; wise, avuncular, prudent and honest guardians of the fortunes or poverty of society. Sadly, all that has changed and Mr Mainwaring for all his pomposity is long gone and has been replaced by a call centre in Mumbai and a gangster in Canary Wharf.

Consider the actions of the Hong Kong and Shanghai Banking Corporation. Having been repeatedly found guilty of all manner of criminality, HSBC have announced that they intend to leave this sceptred isle for good because of impertinent investigation of wrongdoing, unacceptable corporation tax and a cruel and unjust banking levy. Along with money laundering, tax evasion, fraud, illegal rate rigging and stashing the cash of dictators and terrorists, we can now add blackmail to the charge sheet.

It might be tempting to offer these shysters the cab fare to Heathrow or even drive them there yourself if you could afford the petrol and congestion charge, but blackmail is not a victimless crime. The price for unwelcome scrutiny and regulation will be paid by the 8000 staff who, although completely innocent, are about to be sacked. So no tax revenue from the newly unemployed, no spending by them to encourage economic growth and a potential increase in outlay on benefits. Presumably these are the “hard working families” that government tells us are being supported.

Thank goodness we have a strong government prepared to take on the mobsters and stand firm against illegality. Giving a speech at a Mansion House banquet, the increasingly weird George Osborne told bankers that the government`s stake in the Royal Bank of Scotland will be sold off at a knock-down price to private investors meaning that the cost of the bailout will never be fully recovered. He is also going to car boot sale the rest of the Royal Mail to his mates and intends to introduce a law that makes austerity a legally compulsory necessity.

Given the misery and suffering that austerity has caused, the clues are in the words “mansion” and “banquet”. The young people on zero hour contracts and no employment rights serving the sea bass followed by saddle of lamb to entrepreneurial wealth creators are expected to pay for the feast at the end of their shift. Bankers and cabinet ministers regard carrying actual cash as rather vulgar and something that is best left to the lower orders.

Recently, in an attempt to discourage corruption, the Chinese government ordered civil servants and their families to spend a day visiting some fairly brutal prisons. This was intended to illustrate the consequences of acting illegally. Iceland imprisoned bankers and regained control of its economy. In the UK, the Chancellor of the Exchequer talks of easing regulation and lowering the bank levy at a posh banquet.

If HSBC are serious about leaving Britain then I, for one, would be happy to see the back of that particular bunch of crooks. Good riddance, let`s see how long you`ll last in Shanghai.

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