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Trouble At The Torygraph and HSBC


Xann

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Peter Oborne has quit The Daily Telegraph, accusing the newspaper of committing fraud on its readers over its coverage (or lack therein) of the HSBC scandal.

In a scathing editorial published on the Open Democracy website, the newspaper's former chief political commentator accuses The Daily Telegraph management of burying reports on the black hole in the HSBC accounts, which he infers was at the behest of the advertising department.

 

There's more...

 

 

Telegraph's Peter Oborne Wants Independent Probe Into Paper Amid Raid On HSBC In Geneva

 

The Huff

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Right wing journo in right-wing Newspaper owner slimy scumbag revelation Shock!

It's actually a shame when Newspapers lose their credibility and integrity like that. There are fewer and fewer left.

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The whole miserable HSBC saga is about the least surprising piece of news all year. 

 

They've just been busted again.

 

Geneva this time.

 

 

Good. It would be nice to think this brief window of newsworthiness (unless you read the Telegraph) would bring enough pressure on the Swiss authorities to investigate beyond HSBC, but I doubt it somehow. 

 

I just can't stand all the false surprise and empty apologies - Swiss banks involved in money laundering and tax dodging, well well. 

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Private Eye covers this sort of hypocrisy which all the papers seem to be guilty of. Like the Guardian campaigning against zero-hour contracts while allegedly using them for certain staff.

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The surprising (or not) thing is that today, HSBC has the tightest controls of any Bank in the UK when it comes to fighting financial crime, governance and due diligence...and is probably one of the best in the World. This is what has been fed down the line following audit after audit from external companies. Now, after that revelation, imagine how lapse some of the other banks are...

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The sad thing is, the morally bankrupt minority who have lined their pockets through wrongdoings in the past have got away scot free and its the vast majority of the hard working front-line staff who suffer the ramifications. Doris who works as cashier in at HSBC branch will probably have her 2% annual pay-rise on her £15k salary reduced to 1% as the Bank uses some of its staff pay pot to pay off fines for historic dodgy practices.  

 

Plus it's Doris at the HSBC counter that has to sit there and listen to the customers complain about it all, because as everyone knows, you give Doris a piece of your mind and she'll pass it up the line to the Swiss boys and they'll stop it.

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