According to whistleblower Nicholas Wilson, HSBC was ‘involved in a fraudulent scheme to illegally overcharge British shoppers in arrears for debt on store cards at leading British high-street retailers’ including B&Q, Dixons, Currys, PC World and John Lewis. Up to 600,000 Britons were defrauded.
Tag: The Guardian
Another far worse case of HSBC fraud totalling an estimated £1 billion, closer to home and premised on the bank’s ability to prey on unsuspecting British shoppers, has been systematically covered up by regulators, police, law firms, the government and much of the UK media.
“What the British government cannot tell the public is that the current growth model for the UK economy revolves around the endorsement and protection of financial sector fraud.”
The exposure of HSBC’s fraud in Britain could fundamentally jeopardise both the bank’s domestic and US operations.
But despite repeated challenges from us and others, Owen Jones, Richard Seymour and David Wearing – regarded as fiery, independent contributors to the Guardian – have maintained a discreet public silence.
Most telling is that Monbiot does not even suggest that this area of corporate power needs fixing, let alone propose ways it might be done. That, ultimately, is because he is an employee of a corporation, one that sets implicit limits on what he can write about in relation to an area that is his stated expertise.
In short, to be a successful corporate journalist with high public visibility, two of the most important attributes are to direct one’s scepticism in the required direction – towards state ‘enemies’ – and to overlook or play down Western crimes. But perhaps the most important asset is the ability to believe sincerely in the essential ideological framework that drives Western government policies and public pronouncements: that ‘we’ are committed to making the world a better place.
This is a common and disastrous theme in contemporary society. As long as we are willing to perceive, or deem ourselves responsible for, only one small part of our world, the suffering of the world as a whole can be overlooked, or declared beyond our job spec: ‘I’m an oil executive, it’s not my job to protect the climate.’ ‘I’m an arms manufacturer, it’s not my job to prevent people killing each other.’ ‘I’m a science writer, it’s not my job to comment on my government’s war crimes.’