Friday, February 13, 2015

HSBC and the upside-down world of austerity politics

Click here to access article by Jerome Roos from Reflections on a Revolution. 

The headline refers to this news report:
This week it was revealed that HSBC — Europe’s biggest bank — has been actively running and propagating a massive tax evasion scheme through its Swiss subsidiary, allowing some of its wealthiest international clients to hide over $120bn in undeclared assets in 30.000 secret Swiss bank accounts.
Roos goes on to explain this represents one of two major systemic methods the rich use to keep wealth trickling up from the bottom to them. By putting these thefts in a larger, more meaningful framework, Roos leads us to a real solution--system change.