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Clever banks know to dodge responsibility
Environmental News Network
Sunday, 13 May 2007 13:33:21 EDT

Green groups have slammed Chinese banks for increasing investments in environmentally hazardous and controversial projects both in developing nations around the world and at home.

"International banks have complained that the lack of environmental financing standards at Chinese peers is putting them at a competitive disadvantage," Michelle Chan-Fishel, author of the report, was quoted in a statement as saying.

"But banks like HSBC, RBS, Citigroup, Goldman Sachs, and Bank of America all own large shares in Chinese banks. They must take responsibility for ensuring that high environmental standards, which they all claim to have, are also adopted by their strategic business partners."

http://www.enn.com/today.html?id=12748

Even the banks know that most people are gullible fools: just run the most moneyed operations undercover and no one will ever know.