Peter Reynolds

The life and times of Peter Reynolds

STOP THIEVES! £9 Million Banker Robbers

with 23 comments

£9 Million Getaway By Gulliver And Geoghegan

HSBC’s new chief executive Stuart Gulliver has been awarded a £5.2 million bonus for 2010 on top of his £1 million salary.  His predecessor, Michael Geoghegan, gets a £3.8 million bonus on top of a £2 million salary.

It will be little comfort to the taxpayers of Britain that Douglas Flint, HSBC’s chairman,  said the group would “not forget” the financial crisis and support from governments around the world, and that they entered 2011 “with humility”.   These are crocodile tears of the most insincere and deceitful kind.

The only reason that HSBC has been able to make these enormous profits and that these two banker robbers have stolen such obscene bonuses, is that taxpayers have guaranteed their sordid, dishonest and destructive businesses.  More fool us.
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Written by Peter Reynolds

March 1, 2011 at 3:13 pm

23 Responses

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  1. What is worse, the fact these criminals get away with this behavior, or the fact our society lets them?

    Pot Seeds

    March 1, 2011 at 3:27 pm

  2. Hsbc had NOTHING to do with the global financial meltdown.
    They have always had good business practices. They also never received any money from the taxpayer as they didn’t need it.
    The clue is in the name guys
    The Hongkong and Shanghai Banking Corporation Limited !!!! DUH!!

    I expect better from the leader of the LCA.
    Fact is you shot me down last time then changed your opinion overnight.

    But , i was right when i said there has never been ANY direct causation proven between marijuana and psychosis.You called me a liar then changed your mind in blogs weeks later.

    I guess politicians aren’t the only one playing politics, eh Peter? Or did it just suit you more to agree with people so you would become elected as the LCA leader, mmm

    Now you are blogging sensationalist garbage about hsbc which is fit for The Sun.
    mmmm :-/

    TheHerbalTerrorist

    March 1, 2011 at 4:19 pm

    • I think you’re confused THT.

      Of course there is no evidence of cannabis causing psychosis. I never said there was and I haven’t changed my opinion at all. You must have me confused with someone else.

      You clearly don’t understand the reality of the banking system either.

      It’s only the ultimate backstop insurance which governments are blackmailed into providing that allows these parasites and fraudsters to operate. You are incredibly naive about the real world if you think that just because HSBC didn’t take any direct government cash, it isn’t reliant on taxpayer support. If you read the article you’ll see even the chairman acknowledges that.

      Barclays didn’t take any direct taxpayer support either but all its profits and bonuses are on the back of the taxpayer because it plays a system in which governments can’t afford to let it fail.

      Peter Reynolds

      March 1, 2011 at 6:04 pm

      • To answer you question about “What am I on tonight?”

        1. 2500mg Keppra
        2. 500mg Levacitium
        3. 2mg Clonezepam

        Don’t worry, they are only anti-convulsants.
        Although no. 3 is Class A Narcotic, so you may enjoy it. Thankfully it just makes sure I don’t have a fit in my sleep.

        The Debt Collector

        March 4, 2011 at 12:07 am

    • Yes, you are right in part.

      HSBC actually bought out the Bankrupt Midland Bank, and as a result saved several hundred jobs. However, there was an ulterior motive behind it.

      HSBC are (as you rightly say) a Hong Kong organisation and do a lot of trade with the UK. They still have their own currency Hong Knog Dollars. For them to trade in the UK in Sterling, particularly if they are purchasing in Hong Kong Dollars from a a particular company on a Letter of Credit, both parties need a “Correspondent Bank”.

      Midland Bank were their Correspondent Banking Sterling Reserves, i.e. their local banker. You can only pay someone through a LEtter of Credit in a local Currency or US Dollars; either way you still need a bank in that Country to hold your reserves.

      Since Midland Bank were already in trouble, and HSBC Cash Rich, it made sense to buy out their Correspodent Bank, saving HSBC a lot of money on International Bank Charges as well as making international trade a lot easier between not only the UK and Hong Kong, but more importantly (to them) a bridge-head to Europe, which until the 1990s they hadn’t got.

      In return for this England kept one of its main Clearing Banks (albeit under a new name) and in the process saved a lot of jobs. HSBC, like Barclays is one of the few solvent banks left in the UK, and not needed bailing out to the degree that the others have.

      The Debt Collector

      April 17, 2011 at 4:54 pm

  3. Ok, first of all
    Peter Reynolds

    January 9, 2011 at 11:04
    Quote
    “It’s rubbish to say “there has never been ANY link found between cannabis and psychosis /schizophrenia”. These are ludicrous, destructive, over the top criticisms that are just as damaging to our cause as any prohibitionist.”

    No offence Peter, But you said my statement was “rubbish”

    Now which is it? Does it or doesn’t it? Make your mind
    up

    I tend to adopt a Zero BS policy.So please forgive my abrupt nature.
    Unlike recreational users, members of my family rely on clean safe medication for serious life threatening conditions.MS and Auto Immune disorders.So it kinda pisses me off when people tell lies about the one safe medicine which actually works.My goodness the majority of people in this country think it can kill you after ingestion :-/

    As for the banking system, i understand full well how it works.But prefer to reserve my anger for banks and institutions which were directly responsible.Financial institutions like Goldman Sachs who tried to profiteer from all this.While i do not agree with such bonuses for any bankers no matter how successful they are.We shouldn’t take our eye off the fact that hsbc have acted honourably and by the rules
    throughout this and have also bailed out dodgy loans and mortgages to the sum of 35 billion if i remember correctly.

    Anyway Peter, my apologies and forgive the first rant, bad day dude

    All the best.

    TheHerbalTerrorist

    March 1, 2011 at 6:39 pm

  4. THT, you walked straight into that one didn’t you?

    I am very precise. There is substantial evidence of correlation between cannabis use and psychosis but not of causation. The most likely explanation of this is that schizophrenics, who are already known to have a very high level of substance (ab)use, may be self-medicating with cannabis.

    There IS therefore a link between cannabis use and psychosis and if you run round denying it then, as I said, you will be “just as damaging to our cause as any prohibitionist”.

    THT, if you want to play with the big boys and debate this thing accurately then you do have to be very precise with your language and great, sweeping, inaccurate generalisations do more harm than good to our cause.

    You slip into the same trap when you start saying that people “tell lies”. Most people don’t. They are either ignorant, inaccurate (like you) or don’t understand. There are very few who actually lie.

    Therefore, accusing people of being liars damages our cause too.

    Particularly for you, as a medicinal user, this is an issue of crucial importance. We cannot afford to damage our own case by imprecise language or aggressive and over-the-top arguments.

    Believe me, I am on your side and I know what I’m doing.

    Finally, there is no such thing as an honourable banker. They are all rogues, charlatans and thieves.

    Peter Reynolds

    March 1, 2011 at 7:22 pm

  5. This is what happens when you let private banks create our means of exchange as debt, they pescribe a tax called interest

    our banking system is morally corupt and will cease to function without cheap inputs of oil!

    We have learned nothing – our leaders are no wiser than you or i!
    Our current debt based fractional reserve banking system will destroy the planet – because it was designed around a background of cheap abundant oil that nobody worried about it peaking – well it has, and unless we really have a major paradigm shift we will see slowly but picking up speed – collapse of society’s and more and more failed states – disruptions in oil markets – regional conflicts and starvation – oil is food – we eat oil

    Paul Smith

    March 1, 2011 at 8:50 pm

  6. If the banking system had gone down – HSBC would have gone down with it- end of

    Our modern day banking system is a fraud – without cheap inputs of energy it’s game over

    Just do the reading on peak oil – flow rates – EROI of tar sands -current rates of consumption in Chindia will require most of the global oil output by 2020 – 9 years from now! we have been on a production Plateau for 6 years now, a decline rate of 2% would be life changing – 4% – end of the world as we know it

    Paul Smith

    March 1, 2011 at 8:58 pm

  7. This is why we have our eyes all over Libyan Oil, we are pretty shit scared of it kicking off in Algeria as well, Saudi – well thats the big one – they have a day of rage booked in for 11th March.

    The problems in the Arab world are unfixable – rising young populations living in the internet age, wanting freedom, sexual freedom, wanting a job and a living wage – many have dwindling oil and Gas reserves (Egypt, Yemen, Jordan + more)
    Water is a constant problem and R/O is expensive. Food prices are killing people as poor middle eastern states need to import all of there food even the rich ones do. Oil is the main export in the middle east and it does not cover the bill for rising populations whom are using more and more oil themselves – with net exports falling until themselves become net importers

    Quite simply we have reached the limits to growth – The pro HSBC rant above is a very Cornucopian way of looking at the world – bless him

    Paul Smith

    March 1, 2011 at 9:14 pm

  8. To me it is absurd that anyone alive, be they thriving or not even a banker, receive a bonus on such a ridiculous scale. The greed appears to be beyond belief! How obsessed with consuming must you be to need such a sum and strive to earn yet more.
    I do think some people are truly misled as to the meaning of leading a good and fore filling life.

    Nick

    March 1, 2011 at 10:16 pm

  9. Paul, i actually agree completely.My rant wasn’t pro hsbc either.Fractional banking is morally corrupt.
    Im just a little fed up with the finger pointing and polarized arguments but you sum up the truth really well.

    Peter, .
    The fact is there is NO link whatsoever.
    Correlation is complete nonsense and not science. It’s a prohibitionists excuse, you’re only repeating the lies and YOUR ignorance is no excuse.
    I can find correlation between anything.Beans and murder? Decline in Pirate regalia and global warming?
    I mean really?
    The fact is the bbc made a sensationalist docu that was thinly disguised as investigative journalism that did nothing but perpetrate more myths and fear.
    You seemed to think that was acceptable, i do not.

    Play with the BIG BOYS? OUR CAUSE??? Wow, put the reigns on your super inflated EGO.
    Im a good deal taller than you in height (6’8″), so im afraid you don’t qualify as BIG in the first place.
    Are you a little man with a big ego? Perhaps , the jury is still out on that one.

    And even though we share a lot of common ground,”YOUR cause”, really has nothing to do with me or any seriously ill medi user.
    As i personally only care about people that are seriously ill, not recreational users.
    If you want to get high, go and do it.
    But medical users need safer clean medicine now and Sativex is an expensive profiteering joke.

    TheHerbalTerrorist

    March 1, 2011 at 11:07 pm

    • My God, you know how to pick a fight with someone on your own side don’t you?

      Nearly 70 years ago when our grandfathers were charging up those Normandy beaches, I am sure there were petty rivalries and disagreements on all sides, but they put those aside. They joined together to defeat the Nazis. That’s where we are now. Once we’ve won the war, you and I can go outside and sort out our differences, OK?

      Believe me, if my ego had anything to do with it I wouldn’t bother being here. I’ll take your snide attack on recreational use on the chin. If you check me out you’ll find my motives are far from selfish. I left my outrage at the infringement of my personal liberty at the door. I spend hours every day fighting on behalf of medicinal users so don’t preach at me!

      Peter Reynolds

      March 1, 2011 at 11:31 pm

    • Now you see THT, what was published in the BMJ yesterday, shows just how dangerous and self-defeating your wild generalisations and assertions are.

      http://www.bmj.com/content/342/bmj.d738.full?sid=6bfa444b-178d-46d4-8fa5-dfbf21029dca

      Unfortunately, this is evidence of a stronger link between cananbis and psychosis and if we want to deal with it effectively, we have to deal with it rather than just getting angry or just shouting it down.

      Cannabis is a psychoative substance. That’s the reason that most of us use it. We have to recognise that it has psychoactive effects and some of those may be negative.

      Peter Reynolds

      March 2, 2011 at 8:51 am

      • Still rattling on Peter as you cant handle the fact you’ve been caught flip flopping like a dead fish.
        Ohh btw thank you for proving “Godwins Law” with your last post.Gave me a chortle to say the least.Very predictable, but you got there faster than most :-/
        Still fanning that ego i see
        Ok where do i start to dismantle your prohibitionist misinformed dribble.
        Lets try here,
        “Conclusion Cannabis use is a risk factor for the development of incident psychotic symptoms. Continued cannabis use might increase the risk for psychotic disorder by impacting on the persistence of symptoms. ”
        Incident? what’s this Incident psychotic symptoms?
        So basically transient incidences could be a factor when someone is genetically pre-disposed.It could make matters worse.

        You call this new information???? ohh i despair i really do.This is an old study, its just this interpretation of the study is new.

        Also while we are at it can you define a transient psychotic episode in a healthy adolescent to me?
        MMmmmm nah i didn’t think so….

        Is believing in Aliens or talking to god in your head a psychotic episode??? Is believing in reincarnation or the flying spaghetti monster psychotic ?Please define it to me Peter.

        And this next section is just the icing on the cake for me personally :)

        “Furthermore, we used a rather broad outcome measure, defined as a minimum of one positive rating on a G section item, representing psychotic experiences rather than clinically relevant psychotic disorder. It has been shown, however, that psychotic experiences show continuity with psychotic disorders such as schizophrenia.18 46 In addition, given that fact transient psychotic experiences might, under certain circumstances, become abnormally persistent, giving rise to clinical psychotic disorder”

        Just in case you haven’t noticed. Can i point out something rather obvious .
        Schizophrenia and Psychosis are not transient.
        So rather than just looking at true psychotic disorders, any strange or abstract thought qualify as a psychotic experience after smoking cannabis according to this study.

        Its glaringly obvious that you didn’t actually read and comprehend any of this study.Or else you wouldn’t have posted the link as its a complete embarrassment.
        Of course your EGO is desperate to try and prove YOUR RIGHT.SO i guess you seen the headline and that blinded you ,no luck eh?

        Please Peter, you’re getting delusional.Im not picking a fight with someone on my side.
        You are most definitely not on my side and are in fact the enemy of all real medi users.

        As long as you represent recreational users.You most definitely do not represent true medi users.NOT ONE OF THEM.
        What you have to ask yourself is.
        Any other medication , would you be encouraging and fighting for recreational use?

        Recreational users are part of the problem and the reason why medi users cant get safe clean medicine in the first place.
        So take your ego and your pretend crusade and go back to defending stoner’s. Stop pretending this is about helping people as that’s another obscene lie you are peddling for your own self gratification.
        I know you’re busy so i will let you get back to playing with the Big Boys.
        Ill come back when you have some real science to show me that doesn’t have to move the goal posts to reach a pre defined conclusion.
        Weak

        Theherbalterrorist

        March 3, 2011 at 2:33 am

      • You’re a complete fool THT. Can’t you follow a logical thread?

        You really are a nasty, offensive, bad tempered individual aren’t you? I hope it gives you some satisfaction, displaying your ignorance and lack of grace in public because you won’t deflect me one inch from my course. You may be a selfish, self-centred nincompoop but there are thousands of medical users out there who need someone to stand up for them. Your obnoxious attitude is an embarrassment and you shoud be ashamed of yourself.

        http://peterreynolds.wordpress.com/2011/03/02/putting-cannabis-research-into-perspective/

        Peter Reynolds

        March 3, 2011 at 8:19 am

      • Or in other words Peter: “just because some are not pot-heads; then they must be wrong as they are not as out their scull as you are !”

        Having had to be weaned off a serious drug called phenobarbitone (now a Class A drug), as far as I am concerned a drug is a drug. As for medicinal purposes, a lot of alcoholics use that excuse for having one more brandy.

        And don’t get stroppy because I have dared to disagree with you, there’s a good boy.

        The Debt Collector

        March 3, 2011 at 10:55 pm

      • What are you on tonight?

        Peter Reynolds

        March 3, 2011 at 11:46 pm

  10. IMHo it wouldnt surprise me if the prohibition of cannabis turns out to be the major factor in psychosis.

    There is a picture i once saw which sums it up.

    “There is a cannabis user arrested every 37 seconds, and you wonder why we are paranoid.”

    jimbob

    March 2, 2011 at 10:59 am

  11. hsbc stole a chunk out of my bank acct for absurd bank charges, so pleased my misfortune aided the lining of the pockets of these two money gluttons.

    alisonamazed

    April 17, 2011 at 1:41 pm

  12. the money they took from my account could have bought my groceries for over a month, and is probably what they spend on a dinner for two.

    alisonamazed

    April 17, 2011 at 1:44 pm

    • Depending on how much it is, write increasingly forceful letters asking for it back, then threaten to issue a County Court default summons. I did sue HSBC and got over £1500 back!

      Peter Reynolds

      April 17, 2011 at 3:20 pm

      • Oddly enough Peter I am doing exactly the same thing with NatWest for charging me for and returning three items unpaid:
        1. With the wrong reply
        2. The account was back in order the same
        day following a Wired Funds Transfer through a
        Letter of Credit which THEY drafted !

        Their argument was that the computer (usual excuse then)had automatically returned the items as 1 minuete past midnight because the funds weren’t there. I had to remind them that it was a banking day, not minuet; and in any case what they are asking is that YOU bank a day in advance, but they can do what they like.

        And as I have asked them before: “Why does it take 7-10 days to clear a cheque to-day, when in the 1980s it to 3.5 days?” And yet I can pay in at one branch and shows on my account “real time”?

        I didn’t go through the County Court, but via the Banking Ombudsman and Financial Services Authority.
        Same result, rebate of the charges, the items honoured and a formal apology, together with fiscal recompense.

        So goes back to the original point that ALL the main clearing Banks are just money shops, too busy selling their “product” and frankly would not know a Debit from a Credit if it smacked them in the teeth !

        The Banks need to be reined in and the recent decision in the House of (Law) Lords has now chucked away the “Extorionate Credit Bargain” clause in the Consumer Credit Act, which was designed to stop back street lenders charging absurd interest rates, and allowed the new High Street Bank Robbers to get away with what they want.

        And to rub salt in to the wound expect Joe Public to bail them out !

        But it is absurd Peter, that you had to go as far as issuing the Summons in the first place, for them to comply. And were not for people like us who know the banking system and laws, then these banks would be getting away with more fraud than they are already.

        The Debt Collector

        April 17, 2011 at 5:21 pm


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