06/03/2011

HSBC The World's Selfish Bank

HSBC considers quitting City over tax rowToday the Sunday Telegraph tells us: "HSBC considers quitting City over tax row".

HSBC might as well be honest and say what they mean, "We're not winning so we're taking our ball home with us." If we force the banks to lend more and pay a reasonable amount of tax they might also threaten to tell their mums.

HSBC says they'll move their HQ to Hong Kong. HQ stands for headquarters, but HSBC stands for Hong Kong and Shanghai Banking Corporation, so how did we not see this coming?

The same Government that says they won't be held to ransom by the unions is feeling the pressure of HSBC's threat. But should we care?

Well, HSBC employs thousands of people, but they won't close the branches. They'll still want us for customers so most of those jobs are safe.

Some of the really well-paid bankers' jobs will be affected but they'll just go abroad with the company. They're earning so much they'd probably move their money abroad at some point to avoid paying tax, so we're not losing out on much.

But if these high paid bankers move abroad it will mean fewer BMW drivers on the road.

Erm, I'm not seeing a downside here.

>Read the source story
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