HSBC bosses apologise for 'unacceptable' practices

[Guy Whitey Corngood]

The two top HSBC bosses have apologised for "unacceptable" practices at its Swiss private bank which helped clients to avoid tax.

Stuart Gulliver, group chief executive, said it had caused "damage to trust and confidence" in the company.

He and chairman Douglas Flint were answering questions from UK Members of Parliament of the Treasury Committee.

Mr Flint said he felt shame and would "take his share of responsibility" for Swiss private bank failings.

But when asked by MPs who was most responsible for the problems in HSBC's Swiss private bank, Mr Flint said: "The individuals most accountable for the data theft and the behaviour that was unacceptable to our standards, was the management in Switzerland.

http://www.bbc.com/news/business-31627068

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1. Guy Whitey Corngood

Guy Whitey Corngood


The only thing he really was sad about - was the fact the bank was caught doing it on a regular basis - not that the bank was helping people not paying their share of the tax base... And I suspect the bank will go a long way destroying all possible evidence about who was cheating the government for their share of the taxes - so no one could be hurt by the fact they kept money away from being taxed...

Mr Stuart Gulliver, and Douglas Flint should be behind bars for at least a decade for their crimes - and all the ill-gotten assets should be sized - and used by the government to better use - and HSBC should be given a penalty who was at least 50 percent of the total sum the bank earned thanks to the tax scheme... And then, if posible - all the nessesary documents given from the bank, to the authorities - so everyone who have been sheating their share of taxes - should be held accontable for what they was doing...

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