Wednesday, December 12, 2012

Putting The HSBC Fine In Perspective

This article (via Manan Shukla) puts another perspective on the HSBC fine.  It was embarrassing for it to get caught breaking the law, but it was good business while it lasted.  The amount of the fine is small relative to its assets and its income.  It is not good deterrent. That is one reason why big banks continue to do bad things.

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