Corporate Gay Activism 4

9.  Hypocrisy Of Hong Kong's Morality Militia 

a.k.a. Follow The Money, Darlin'

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1.  Faced with 2 "gay" rainbow-painted lions outside HSBC's head office, the "family values" crowd complained that as shareholders in the bank, they were given no choice in HSBC's decision to support (Gay) Pride and Diversity, both within the bank and apparently within society generally. They felt they were compelled to accept a homosexual lifestyle.  (Well, we're no fans of the homosexual lifestyle either, but we digress...)

2.  Here's the list of their grievances that we set out in Part 2:

•  the painted lions were a "disgusting display";
• blurring of gender identity;
• discrimination against traditional values;
• emotional damage;
• HSBC's pro-GLBT policies had never been discussed at shareholders meetings;
• forced shareholders to recognize the homosexual lifestyle;
• infringed shareholders' freedom of conscience;
• threats to close their accounts;
• HSBC was arrogant in refusing to meet them and hold a dialogue;

3.  In other words, they were presented with a fait accompli. And they're right.

4.  But here's our take on the "family values" objections...this group of minority shareholders are complaining against something that potentially stands to make the bank money and create reputational goodwill.  

5. The same crowd were conspicuously silent in condemning HSBC's actions that cost the bank money and caused reputational damage:

• 2012 - HSBC hit with a massive fine in the US for poor anti-money laundering controls;
• HSBC's alleged links to terrorist financing;
• HSBC's via its Swiss office advising on tax evasion - and then setting aside US773 Million for potential tax investigations into them.
• 2014 - HSBC and 4 banks paid US4.25 Billion that the banks had conspired to manipulate currency rates; 
• 2014 - HSBC paid US550 Million concerning mortgage-backed securities that were made to appear compliant with regulations;
• 2016 - HSBC executives in London arrested for currency manipulation and fraud;
• HSBC one of 16 banks accused of manipulating interest rates via LIBOR;
• HSBC and other banks implicated in manipulating gold and silver prices;

6.  To which we would add, it's no excuse for HSBC to say all this took place outside Hong Kong.  HSBC is a global bank, that derives most of its income from Asia and has made it a point of focusing on the Asian market even more.

7.  Until 1983, the bank was incorporated in Hong Kong (then Bermuda, now London) and regards Hong Kong as a major operating base.

8.   To borrow the same language used by the Hong Kong "family values" crowd complaining that they were given no choice in HSBC's decision to support Pride and Diversity, the financial actions of HSBC briefly highlighted above (and probably by no means exhaustive) amounted to:

• "a disgusting display";
• blurring of ethics;
• discrimination against traditional values i.e. the prudent banker;
• emotional damage at the extent of the criminal and civil proceedings;
• never discussed at shareholder's meetings;
• forced shareholders to recognize a criminal lifestyle;
• infringed shareholders freedom of conscience;
• bank arrogance in refusing to meet them and hold a dialogue about the bank's actions that were attracting criminal and civil penalties in several countries;

9.  But y'all know gay guys are far easier targets than bankers, riiight..?? 

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