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Top Reads this Week (27 Sep)
By Financial Horse  •  September 27, 2020
Rounding up top reads from around the web, including articles shared by fellow investors in the Financial Horse Facebook Group.

HSBC, Deutsche Bank Lead Bank Stock Sell-Off Following Money Laundering Allegations, Potential China Blacklist (Yahoo Finance)

On Sunday, BuzzFeed reported leaked Suspicious Activity Reports (SARs) filed with the United States Department of Treasury suggesting HSBC Holdings plc (NYSE: HSBC), JPMorgan Chase & Co (NYSE: JPM), Deutsche Bank AG (NYSE: DB), Standard Chartered Plc (OTC: SCBFF), and Bank of New York Mellon Corp (NYSE: BK) and other banks collectively processes more than $2 trillion in suspicious transactions from 1999 to 2017. Banks are required to file SARs within 60 days of detecting specific transactions. Allianz chief economic advisor Mohamed El-Erian told CNBC banks are already facing a historically difficult environment given low interest rates, higher credit risk and less credit card activity. “Now put on top of that renewed concern about regulatory and supervisory issues and it literally is the perfect storm....
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By Financial Horse
Financial Horse was founded with a simple goal – To provide high quality financial commentary, in plain English. He is a firm believer in Einstein’s quote that “If you can’t explain it to six-year-old, you don’t understand it yourself.” Too much of finance is shrouded in complex jargon, and Financial Horse aims to demystify financial investments.
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