BUSINESS IS BUSINESS!!

I just had to post this in full, from the creative mind of Teacher Dude.

     HSBC Systematic Investment Plan - For the drug cartel that is going places, a photo by Teacher Dude's BBQ on Flickr. Alphonse Gabriel Capone, Group Chief Executive, said: "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again. The Mafia of today is a fundamentally different organisation from the one that made those mistakes. Over the last two years, under new senior leadership, we have been taking concrete steps to put right what went wrong and to participate actively with government authorities in bringing to light and addressing matters.

     "While we welcome the clarity that these agreements bring, ensuring the highest standards wherever we do business is an ongoing process. We are committed to protecting the integrity of the global controlled substance system. To this end we will continue to work closely with governments and regulators around the world."
In the past several years, the Board of Cosa Nostra - HSBC Holdings plc has taken decisive action to direct management to fix past shortcomings as they have come to light. Since 2011, with new senior leadership teams in place at both Cosa Nostra - HSBC Group and Cosa Nostra - HSBC North America, Cosa Nostra - HSBC has taken extensive and concerted steps to put in place the highest standards for the future.

     The Department of Justice has recognised these efforts in the DPA: "Management has made significant strides in improving 'tone from the top' and ensuring that a culture of compliance permeates the institution. The efforts of management have dramatically improved Cosa Nostra - HSBC Bank USA's and Cosa Nostra - HSBC Group's Bank Secrecy Act / Anti-Money Laundering and Office of Foreign Assets Control compliance programmes."

ann arky's home.

AL CAPONE STYLE BONUSES!!

      We keep hearing rumblings from our shiny politicians about regulating the banks and curtailing those monopoly money bonuses. But I wouldn't hold my breath on anything actually happening, afte all most of the politicians have friends in that little racket, all the patter is for public consumption only. It is difficult to find on what criteria the bankers base their right to those obscene bonuses. They can't justify their bonus claim on hard work. If it was hard work that merited those staggering bonuses, then I would probably be a very rich man. Not because of my hard work, but that of my father, he was a coal miner all his working life. The pits used to close for the Glasgow Fair fortnight, but they always needed a skeleton crew to go down the pit every day to check for gas and/or flooding etc. So he volunteered for that year after year. My mother and her wee gang would head off to Dunoon for our two weeks holiday, my father never came, we saw him at the weekends. Now that is hard work, so if stratospheric bonuses were based on hard work my dad would have been a millionaire, and no doubt, me being his only son, would have benefited very nicely after his death, however, I'm just one of the nations poor pensioners. So we can discount the hard work theory for big bonuses. Perhaps it is based on the amount of money you generate, they could believe that the more money you generate, the bigger your bonus. So the less money you generate the less of a bonus you get. Of course if we carry this to its natural conclusion, if you don't generate money then you are in trouble. Meaning that people like surgeons etc. who go off to work every day, cutting and stitching people, don't generate any money. In fact they cost us money, should we then charge these people to work for us? Or should we base remuneration on a simple “fair days wage for a fair days work”, principle?

       The truth is that there is no justification for those ridiculous, mind-blowing bonuses, it is just the simple law of gangsterism. Just as in the Al Capone days, the mobsters looked after “their boys”, so that they could rely on them to do their dirty work and protect them and their wealth creating racket. So the financial Mafia of today, look after “their boys”, so that they can rely on them to do their dirty work and protect them and their wealth creating racket. It is not in the remit of the financial Mafia and “their boys” to do anything for the community at large, it is simple to gather as much wealth and power into their particular section of the rackets.

ann arky's home.