Is HSBC going to collapse?

Frynge · 26-01-2014 07:25PM

Sometimes i wish run to da hills was still around.

ninebeanrows · 26-01-2014 07:31PM

More fuel to this conspiracy fire :P

http://www.bbc.co.uk/news/business-25907000

NIMAN · 26-01-2014 07:32PM

Is that website reputable, no mention of this on the main sites.

Nodin · 26-01-2014 07:32PM

Doesn't the Brit Government own HSBC (or the large part of it)?

Stavros Murphy · 26-01-2014 07:33PM

Frynge wrote: »

Sometimes i wish run to da hills was still around.

The Feds got him.

I can't see HSBC going wallop, mainly as then the time to start killing people and feasting on the goo in their skulls would be here. I watched a video they had for internal training which showed the breadth of their interests. By the end, if a picture of my car, wife and house had flashed up, I wouldn't have been surprised. They are into everything else anyway..

Frank Lee Midere · 26-01-2014 07:35PM

ceadaoin. wrote: »

I thought they were restricting cash withdrawals because they got caught laundering money for drug cartels and have to look like they are doing something about it? They are already backtracking on it due to customer outrage.

Yes. Despite the drug running thing they are fairly well capitalised.

biko · 26-01-2014 07:45PM

NIMAN wrote: »

Is that website reputable, no mention of this on the main sites.

They got it from Telegraph that has since deleted its page.
This is the text http://uk.finance.yahoo.com/news/hsbc-faces-70bn-capital-hole-133705984.html

ABajaninCork · 26-01-2014 07:51PM

That article was from the 16th January. Slightly worrying all right...

Rightwing · 26-01-2014 07:53PM

Nodin wrote: »

Doesn't the Brit Government own HSBC (or the large part of it)?

No, was HBOS they part own.

HSBC is a £125bln market cap company, it's in no danger.

The bank issued a statement (below) this morning defending their actions - it's for your own good - but rescinding the decision - "following feedback, we are immediately updating guidance to our customer facing staff to reiterate that it is not mandatory for customers to provide documentary evidence for large cash withdrawals."

Gyalist · 26-01-2014 08:14PM

This is the same website that had this last week:

On May 2014, through Europe newborn children will be compelled to take in a subcutaneous RFID chip.

Public clinics in the European Union are to be alerted. The chip in inquiry will be contributed with the report sheet on the newborn.

This chip will also be an impressive GPS sensor that will task with a micro- disposable battery every 2 years in state clinics. GPS chip grants an edge of error of 5 meters, as a statement that it is excellent.

It will be linked straight to a satellite, which will guide the networks. As forecasted, this chip will be essential for all kids born after May 2014 , but with a present confirmation date until December 2016.

All European newborn Babies will be Microchipped from May 2014

No Pants · 26-01-2014 08:32PM

I'm off to invest my savings in tinfoil.

Victor · 26-01-2014 08:35PM

I think a few stories are being added together to get 1+1+1+1=53

1. Some banks at varying levels of willingness and knowledge have laundered money for criminals.

2. Banks everywhere get concerned when people who, say, normally withdraw a few hundred a week, suddenly look for thousands in one go. Sure, maybe it's buying a car or having a holiday, but maybe it is someone who is being exploited or blackmailed, maybe it's someone with a gambling or substance abuse problem, maybe it is money laundering. Asking questions might be very useful to the customer.

3. ATMs, individually or in groups, occasionally go on the blink. Usually it's an IT problem.

4. Some banks have dodgy assets. But how much have they paid for the asset and how much is it worth. Sure, some loans will only get back a fraction of what was loaned out, but on balance, the banks always win. Not all such assets affect the bank - they might be held by the bank on behalf of customers or invents / pension funds and they might have been bought at a discount. If someone invested €1,000 in Dodgy Asset Company Ltd. and HSBC now own that investment and only expect to get €100 back, that doesn't matter if they only spent €50 buying it.

grizzly · 26-01-2014 08:45PM

I heard the reason they were limiting large withdrawals (£4,000 +) was to prevent theft from ID scams. If this is true it would be a little scary. HSBC is huge.

AndonHandon · 26-01-2014 08:53PM

HSBC must have something in it's culture, a seemingly 'don't ask don't tell' style of regulation. The liquidity gap thing, if true, wouldn't overly surprise me.

MonaPizza · 26-01-2014 08:56PM

EuropeanSon wrote: »

No.

/panic

What about Lehman, AIG financial, Bear Stearns, Northern Rock, Anglo Irish?

ScouseMouse · 26-01-2014 09:03PM

I do money transfer for one of the big names.

We are told to suss out people to try to stop them getting ripped off. I have had two people come to me for UKASH cards. Both of them were trying to pay the garda virus fine :eek:

I had another guy in on tuesday trying to send money to claim his lottery win, but had to pay the fees !

And then there was the fella on friday night who needed to send someone a ukash voucher for delivery of a fridge. He did not know them, could not get them on the phone, but was still trying to send them money.

Some people do need to be saved from themselves.

Phoebas · 26-01-2014 09:06PM

MonaPizza wrote: »

What about Lehman, AIG financial, Bear Stearns, Northern Rock, Anglo Irish?

Is this the infallible "other banks failed in the past, therefore this bank will fail now" line of logic?

Mongfinder General · 26-01-2014 09:08PM

superscouse wrote: »

I do money transfer for one of the big names.

We are told to suss out people to try to stop them getting ripped off. I have had two people come to me for UKASH cards. Both of them were trying to pay the garda virus fine :eek:

I had another guy in on tuesday trying to send money to claim his lottery win, but had to pay the fees !

And then there was the fella on friday night who needed to send someone a ukash voucher for delivery of a fridge. He did not know them, could not get them on the phone, but was still trying to send them money.

Some people do need to be saved from themselves.

Jesus....

Zillah · 26-01-2014 09:10PM

superscouse wrote: »

I do money transfer for one of the big names.

We are told to suss out people to try to stop them getting ripped off. I have had two people come to me for UKASH cards. Both of them were trying to pay the garda virus fine :eek:

I had another guy in on tuesday trying to send money to claim his lottery win, but had to pay the fees !

And then there was the fella on friday night who needed to send someone a ukash voucher for delivery of a fridge. He did not know them, could not get them on the phone, but was still trying to send them money.

Some people do need to be saved from themselves.

HSBC were demanding proof after customers explained their perfectly legitimate reasons for wanting to take money out. I'd have blown my top.

Frankly I'd blow my top if my bank even asked me what it was for. It's my money - who the fu*k do you think you are?

Filibuster · 26-01-2014 09:12PM

Zillah wrote: »

HSBC were demanding proof after customers explained their perfectly legitimate reasons for wanting to take money out. I'd have blown my top.

Frankly I'd blow my top if my bank even asked me what it was for. It's my money - who the fu*k do you think you are?

Bank of Ireland asks you what the purpose of your bank transfer when you do it by paper

MonaPizza · 26-01-2014 09:20PM

Victor wrote: »

I think a few stories are being added together to get 1+1+1+1=53

1. Some banks at varying levels of willingness and knowledge have laundered money for criminals.

2. Banks everywhere get concerned when people who, say, normally withdraw a few hundred a week, suddenly look for thousands in one go. Sure, maybe it's buying a car or having a holiday, but maybe it is someone who is being exploited or blackmailed, maybe it's someone with a gambling or substance abuse problem, maybe it is money laundering. Asking questions might be very useful to the customer.

3. ATMs, individually or in groups, occasionally go on the blink. Usually it's an IT problem.

4. Some banks have dodgy assets. But how much have they paid for the asset and how much is it worth. Sure, some loans will only get back a fraction of what was loaned out, but on balance, the banks always win. Not all such assets affect the bank - they might be held by the bank on behalf of customers or invents / pension funds and they might have been bought at a discount. If someone invested €1,000 in Dodgy Asset Company Ltd. and HSBC now own that investment and only expect to get €100 back, that doesn't matter if they only spent €50 buying it.

Oh FFS ...please. Like a bank gives a toss what you do with your money when you withdraw it. Do you think they care if you gamble it, shove it up your nose or buy a bunch of versace suits and get wasted on cocktails in the local overpriced wine bar?

If you're being blackmailed or have developed a drug problem wouldn't the logical step be to go to the police or rehab not your bank clerk.
I can see it now. "I need to withdraw 10 grand because I've run up some drug debts", teller says "Well it's best you don't have the money then. It's for your own good"

(a week later)

"I need to withdraw 20 grand. 10 for the drug debt and another 10 for physiotherapy and a prosthetic limb since they've hacked off one of my hands."

rwg · 26-01-2014 09:27PM

MonaPizza wrote: »

"I need to withdraw 20 grand. 10 for the drug debt and another 10 for physiotherapy and a prosthetic limb since they've hacked off one of my hands."

10 g's for physiotherapy on a hand that isn't there?

MonaPizza · 26-01-2014 09:28PM

Phoebas wrote: »

Is this the infallible "other banks failed in the past, therefore this bank will fail now" line of logic?

No. It's the "didn't you say that about the other bank collapses?" line of logic.

Phoebas · 26-01-2014 09:29PM

MonaPizza wrote: »

No. It's the "didn't you say that about the other bank collapses?" line of logic.

Equally spurious.

dj jarvis · 26-01-2014 09:31PM

Zillah wrote: »

HSBC were demanding proof after customers explained their perfectly legitimate reasons for wanting to take money out. I'd have blown my top.

Frankly I'd blow my top if my bank even asked me what it was for. It's my money - who the fu*k do you think you are?

nothing new really , i got asked where i got 4, 500 euro notes i was trying to lodge into my business account ,i am a regular customer.

I could not believe what they were asking me - I had sold some equipment and got paid cash , i asked was it counterfeit and he said no , so i promptly told him where to go.

none of his business where i get my cash from ,a amount under 10,000 does not even draw revenues attention

cheeky fuc2kers :mad:

IF HSBC falls watch the British banking system and the city of London have a MELTDOWN - HSBC own everything !!!

pickarooney · 26-01-2014 09:33PM

how do you launder money through a bank? I've been pissing around with dry cleaners and hair salons all this time when my bank could have just done it for me?

MonaPizza · 26-01-2014 09:35PM

Filibuster wrote: »

Bank of Ireland asks you what the purpose of your bank transfer when you do it by paper

I think that's generally so the recipient (who probably receives multiple sums via transfer each day) can recognise the payment rather than comparing amounts to outstanding debts. It's just to facilitate ease of accounting. When you pay the rent you get a receipt with "rent" written on it, no?

MonaPizza · 26-01-2014 09:39PM

rwg wrote: »

10 g's for physiotherapy on a hand that isn't there?

You do need physio to adjust to a prosthetic. How the hell do you learn to use it? :rolleyes:

renegademaster · 26-01-2014 09:40PM

Victor wrote: »

I think a few stories are being added together to get 1+1+1+1=53

1. Some banks at varying levels of willingness and knowledge have laundered money for criminals.

2. Banks everywhere get concerned when people who, say, normally withdraw a few hundred a week, suddenly look for thousands in one go. Sure, maybe it's buying a car or having a holiday, but maybe it is someone who is being exploited or blackmailed, maybe it's someone with a gambling or substance abuse problem, maybe it is money laundering. Asking questions might be very useful to the customer.

3. ATMs, individually or in groups, occasionally go on the blink. Usually it's an IT problem.

4. Some banks have dodgy assets. But how much have they paid for the asset and how much is it worth. Sure, some loans will only get back a fraction of what was loaned out, but on balance, the banks always win. Not all such assets affect the bank - they might be held by the bank on behalf of customers or invents / pension funds and they might have been bought at a discount. If someone invested €1,000 in Dodgy Asset Company Ltd. and HSBC now own that investment and only expect to get €100 back, that doesn't matter if they only spent €50 buying it.

It's more than "some" and more like most banks have laundered dirty money from the absolute scourge of humanity yet not one white collar individual even sees the inside of an interigation room in a fcuking police station!
You do know what would happen to you if you wer linked to laundering money for your local drugs gang?

Your feet wouldn't touch the ground til you rotted away in a jail cell for years, everything you earned or bought from earnings taken away and gifted to the state, your families life turned upside-down, zero chance of employment upon release etc etc.

The american government have recently been exposed for having deals done with certain gangs that allow them to operate in the very business it deems so dangerous to society that we need an endless "war against drugs"!! Add the American protected Afghani poppy fields that go onto supply 90% of the whole worlds illegal heroin.

The deputy mayor of paris was arrested last year for cannabis importation from morocco to france, HSBC was the bank of choice to launder the millions, Christine Le Garde's home has been searched in the investigation!!

Repeat after me, we are free, we are free!!

Lapin · 26-01-2014 09:46PM

Well if it does, I hope I'm not walking past it at the time.

Is HSBC going to collapse?

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