Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week

Lloyds Bank, following a few systems failures in 2012, is facing accusations from a former executive that risk controls are lacking, while Thomas Weisel is under scrutiny for ties to Lance Armstrong, HSBC can't get away from its money laundering settlement and "genius" trader risk top this weeks chatter in the press and on Twitter.

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1. HSBC Walks Away

I guarantee that there is someone here in night court in New York who will get a tougher penalty for peeing in an alley than anybody got at HSBC for laundering billions of dollars for drug cartels.

— Matt Taibbi, contributing editor, Rolling Stone

Source: Rolling Stone: Taibbi Talks HSBC on 'Colbert'

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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