HSBC (Hongkong and Shanghai Banking Corporation) is a global bank with many branches in New York City. In December 2012, HSBC was assessed a $1.9 billion penalty for money laundering. Jon Stewart of Comedy Central’s The Daily Show gave HSBC a new nickname on the January 9, 2013 show—“Holy Shit, Bank Corrupt!”
Similar HSBC nicknames include “Holy Shit Buffalo’s Cold” and “Holy Shit my Bank’s Chinese.” The HSBC nickname of “Hot Sauce Bleu/Blue Cheese” (cited in print since 1999) is a food tribute to the popular dish of Buffalo chicken wings.
HSBC Holdings plc (commonly known as HSBC) is a British multinational banking and financial services company headquartered in London, United Kingdom. As of 2012, it was the world’s third-largest publicly-held bank and sixth-largest public company, according to a composite measure by Forbes magazine.
HSBC is a universal bank and is organised within four business groups: Commercial Banking; Global Banking and Markets (investment banking); Retail Banking and Wealth Management; and Global Private Banking. It has around 7,200 offices in 85 countries and territories across Africa, Asia, Europe, North America and South America, and around 89 million customers. As of 31 March 2012 it had total assets of $2.637 trillion, of which roughly half were in Europe, the Middle East and Africa, and a quarter each in Asia-Pacific and the Americas.
HSBC Holdings plc was founded in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company and to enable the acquisition of UK-based Midland Bank. The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865.
Stewart Tears Into ‘Disgraced Financial Institutions’ For Leading The World ‘To The Brink Of Armageddon’
by Anjali Sareen | 11:37 pm, January 9th, 2013
In a new segment dubbed “Disgraced Financial Institution Update”, late night host Jon Stewart took on the recent controversy surrounding mega-financial services group AIG. He also took some time to bash HSBC, adding an update of the bank and bestowing upon it the new nickname of “Holy Shit, Bank Corrupt.”
The Huffington Post
Jon Stewart Takes On HSBC & AIG In ‘Disgraced Financial Institutions Update’ (VIDEO)
Posted: 01/10/2013 9:31 am EST | Updated: 01/10/2013 9:31 am EST
After Tuesday’s fairly heavy show on gun control, Jon Stewart decided to cover more light-hearted news on Wednesday by taking on our country’s corrupt financial institutions.
First up, was HSBC, or as Stewart re-dubbed it, “Holy Shit, Bank Corrupt”. He then he moved on to those “Ingrateful Basterds” at AIG.
January 11, 2013
Jon Stewart on H.S.B.C.: “Holy Shit, Bank’s Corrupt!”
Posted by:Nick Shaxsonin:Thoughts
Jon Stewart on hilarious form, as usual, looking at HSBC. Among other gems (apart from HSBC’s new acronym):
“Money laundering with drug cartels and terrorist groups: I am surprised that those people would associate with . . . . . bankers.”
“That is outrageous. I cannot believe that our nation’s enemies are getting better and more personal customer service than I do.”
Beneath the humour, of course, this is a truly horrifying story.
New York City • Banking/Finance/Insurance • Friday, January 11, 2013 • Permalink