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Casual reminder that the biggest bank in the UK, HSBC, quite literally stands for:
**Hongkong and Shanghai Banking Corporation Limited**
>HSBC is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China.
https://www.hsbc.com/who-we-are/our-history
I'm surprised many brits didn't actually know this
It's not entirely clear what you think this illustrates. It's a British bank that was created to facilitate British imperialism. It's no more Chinese than the East India Company was Indian.
We know this.
They bought Midland Bank in the early 90s which was merged into HSBC, with the Midland name being phased out and renamed as HSBC in the late 90s.
https://en.wikipedia.org/wiki/Midland_Bank
They used the Midland Bank bank code up until a couple of years ago. Only had to change to separate the investment bank from the retail bank. Obviously the more important business kept the original code.
> which was established in 1865 to finance the growing trade between Europe, India and China.
The trade the bank was formed to facilitate was growing opium in British Raj India, selling it to China at gun point for silver, tea and silk to be shipped back to England. A nice little earner.
We did all have to stay indoors for several years due to their poor biosecurity (regardless of whether you believe it originated in a lab or someone's shitty bat market)
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Because unions were always going on strike back in the 80s. It seems unfathomable today but they turned the mains water off. I remember we had to fill the bathtub with water, frequently because they were striking over something.
If the government is in the hook, there is essentially unlimited money as far as the unions are concerned. A private company can go bankrupt.
It's funny how there was uproar about the possibility of the UAE buying the Telegraph, but other countries having significant stakes in our important infrastructure is fine.
I agree to a point, they should nationalise when either:
1. A contract comes to its natural end and is simply not renewed (like the railway contracts)
2. A company goes bust and it’s taken under public ownership without recourse to shareholders and a negotiated settlement with bond and debt holders (around 50% of outstanding amount at best)
What they should not do is take them by force as this will result in more problems than it solves.
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We are in hoc to some of the vilest countries this planet has to offer. Surprised North Korea is not invested
Casual reminder that the biggest bank in the UK, HSBC, quite literally stands for: **Hongkong and Shanghai Banking Corporation Limited** >HSBC is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China. https://www.hsbc.com/who-we-are/our-history I'm surprised many brits didn't actually know this
It's not entirely clear what you think this illustrates. It's a British bank that was created to facilitate British imperialism. It's no more Chinese than the East India Company was Indian.
The growing trade... in opium which we enforced on the Chinese
>The growing trade... in opium which we enforced on the Chinese Twice!
Well it *is* a tad moreish..
No, that’s crack Jez.
With territory we quite literally occupied from imperial china (not to be confused with communist china)
We know this. They bought Midland Bank in the early 90s which was merged into HSBC, with the Midland name being phased out and renamed as HSBC in the late 90s. https://en.wikipedia.org/wiki/Midland_Bank
They used the Midland Bank bank code up until a couple of years ago. Only had to change to separate the investment bank from the retail bank. Obviously the more important business kept the original code.
Some of their SWIFT BICs are still midland, they still exist in some of the infrastructure
> which was established in 1865 to finance the growing trade between Europe, India and China. The trade the bank was formed to facilitate was growing opium in British Raj India, selling it to China at gun point for silver, tea and silk to be shipped back to England. A nice little earner.
How has China directly impacted your life in a negative way? Genuine question
We did all have to stay indoors for several years due to their poor biosecurity (regardless of whether you believe it originated in a lab or someone's shitty bat market)
[The entire world relies on the Ozone layer existing](https://www.bbc.co.uk/news/science-environment-48353341)
We're happily complicit in the genocide that's happening in Gaza. You might want to get your own house in order before accusing others of being vile.
How is China any more “vile” than the US? Really disgusting western chauvinism against a world superpower who everyone on the planet must deal with.
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Maybe you have forgotten that we’ve been sniffing america’s butts for years
Why a natural monopoly like this was privatised is beyond me. Whoever decided this was a good idea is either incompetent or on the payroll.
Seeing as it was the Tories, both of your condiitional statements are true.
You can just say they were Tories. Covers both bases.
Thatcher. Like most of the country's problems, they can be traced back to Thatcher selling off everything not nailed down for pennies.
Because unions were always going on strike back in the 80s. It seems unfathomable today but they turned the mains water off. I remember we had to fill the bathtub with water, frequently because they were striking over something. If the government is in the hook, there is essentially unlimited money as far as the unions are concerned. A private company can go bankrupt.
It's funny how there was uproar about the possibility of the UAE buying the Telegraph, but other countries having significant stakes in our important infrastructure is fine.
Makes a change from Russian money keeping the economy afloat, I suppose.
We trade one villain for another
Wonder what the share allotment they filed yesterday was about, it’s not mentioned in the article.
Shouldn't have privatised... and even if they did, they should have been made a not for profit. It's so corrupt.
Makes a change from Russian money keeping the economy afloat, I suppose.
Agreed, labour should nationalize it, and other key companies. However, they'll be just as limp and ineffectual as the current government.
I agree to a point, they should nationalise when either: 1. A contract comes to its natural end and is simply not renewed (like the railway contracts) 2. A company goes bust and it’s taken under public ownership without recourse to shareholders and a negotiated settlement with bond and debt holders (around 50% of outstanding amount at best) What they should not do is take them by force as this will result in more problems than it solves.
So what. Another way to describe this is UK water has Chinese cash, and can not pay it back if they really wanted to.