Thursday, January 03, 2019

HSBC Locked-in

We read that HSBC

And did you read this?

...we found HSBC listed as a shareholder in all 19 arms companies we looked at, with investments totalling more than $1bn.
HSBC has told us that its shares in arms companies are usually held on behalf of clients. But HSBC refused to categorically state that it does not directly hold shares, and its use of the term "usually" suggests that it does. Even when it comes to holdings on behalf of clients, HSBC still benefits from the transactions being able to freely hold those shares on behalf of clients, while claiming that it has no moral responsibility otherwise.
These excuses don't hold up to scrutiny. 

So, is the bank dealing in some way with cluster bombs?

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