HSBC Imposes Restrictions on Cash Withdrawals in the UK

If the government bails you out, then you aren’t too big to fail, you just have some really big thugs who have your back in the case of an all-out robbery. This has been the case with big banks from the US to Great Britain, and from Cypress to China. People the world over have been stolen from. Now, banks are getting more overt in their practice of pilfering. Recently, HSBC customers have been prevented from withdrawing their own money from accounts because they could not provide ‘evidence of why they needed it.’ Are banks really too big to fail or just too big for their britches?

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This action by HSBC has been reported in several places, along with restrictions on withdrawals from small banks in Russia and China. For me, it is an interesting data point.

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