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April 13, 2004.
Washington, Capitol Hill.
Today is the last House hearing on HSBC's acquisition of Standard Bank of South Africa, presided over by Senator Mark Warner, Chairman of the Senate Finance and Banking Committee, on April 13, 2004.
Washington, Capitol Hill.
? Today is the last House of Commons hearing on HSBC¡¯s acquisition of Standard Bank of South Africa, presided over by Senator Mark Warner, Chairman of the Senate Finance and Banking Committee. This is an investigative hearing on a specific issue.
There are four types of Senate hearings;
The first is legislative hearings, the second is supervisory hearings, the third is review hearings, and the fourth is investigative hearings.
Generally speaking, the first three congressional hearings demonstrate the authority of Congress to supervise the operation of the US government, with high standards and rigorous procedures, and must be conducted step by step in accordance with procedures and rules.
The fourth type of investigative hearing is much more casual, which means that the masters of Congress want to know the situation of this matter. Whether it is the commander-in-chief of the United States, the chairman of the Federal Reserve, the CEO of a large multinational company, or an expert in related fields, they must Attend hearings and accept questions according to law.
Some people say ~ I don¡¯t like to go, can I do it?
Hehe Try it, the commander-in-chief of the United States has no right to refuse the questioning of the Senate, because it is illegal.
Enter the venue
Wang Yaocheng, Mo Yuxuan, Citibank Chairman Alex Jones, Bank of America Chairman Sandberg, and US Treasury Secretary Paulson all sat behind the long table.
These people are all acquaintances, and they greeted each other warmly, exchanged a few words in a low voice, and then sat down to sort out the materials.
for a while
Mr. Senator will ask questions at will, and must be prepared in advance.
Every senator is a veteran who has experienced many years of ups and downs in the political arena. He can beat his competitors all the way to Capitol Hill.
An inadvertently caught weakness may lead to complete passiveness.
In front of it is a stepped semi-circular building structure. The senators are sitting on high chairs and preparing to start questioning. Some interested senators also come to listen, and the seats above are full.
according to rules
Only the eight senators of the Senate Finance and Banking Committee can inquire. Six of them were present today. In addition to the chairman of the committee, Senator Mark Warner, there is also an old acquaintance, Senator Michael Bay, who was behind the acquisition of Samsung Group.
Senator Michael Bay glanced over Wang Yaocheng, Mo Yuxuan, and finally stopped on Treasury Secretary Paulson, with a cold snort in his nose!
? A summary of the hearing;
? Investigated the case of HSBC's merger and acquisition of Standard Bank of South Africa, which was suspected of unfair competition and monopoly.
first
? Senator Mark Warner, Chairman of the Committee, delivered an opening statement;
In view of this, the Senate felt that it was necessary to hold another hearing to clarify the stakes. Will this cross-border merger really damage the healthy competition in the US financial market, and will it bring about a bad domino effect in the financial industry? Prompted the formation of financial oligarchy, the Committee expressed strong concern.
Secondly,
? Presentation by Mo Yuxuan, Chief Executive Officer of HSBC;
? Introduced in detail HSBC's merger attempt and bank development plan, and defended its own position. A large number of data and facts proved HSBC's point of view, which does not involve monopolistic unfair competition in the financial industry.
At this point, the investigative hearing had been going on for nearly an hour.
Many senators, congressmen and assistants came to the scene one after another. If there were not enough seats, they stood behind and listened. Most of them agreed with Mr. Mo Yuxuan's logical and rigorous data, and whispered their opinions in private.
Unknowingly, the voice of private communication rang out, like 500 mosquitoes buzzing in the ear, which made Senator Mark Warner sitting on the rostrum unable to hear clearly.
"Kang, kuang" two sounds
Angrily, he knocked on the table with a hammer, and the sound shook the audience, and said;
"Quiet, this place is like a playground for gypsies. If gentlemen can't shut up and listen quietly, I will terminate the investigative hearing and hold a closed-door secret hearing on another day."
The boss spoke, and everyone on the stage became much quieter.
Wang Yaocheng obviously saw a lot of senators or congressmen curling their lips, looking very disapproving.It is impeccable in the development of relevant banking and financial services, and is fully able to accept the most stringent criteria for judging.
But what I want to point out here is that HSBC is not the government, the police, or the fbi. Please don't put the relevant responsibilities on a commercial bank.
This is unfair and HSBC will not accept it.
For every bank user who comes to open an account, HSBC will provide the most comprehensive and high-quality services as long as they meet the internationally accepted guidelines and do not walk into the bank with a gun.
? European and American legislation pursues the presumption of innocence, unless the court really convicts someone of a crime and issues a banking injunction.
Otherwise, HSBC will not refuse any citizen to open a bank account and handle related business, which is the right of every citizen.
Whether it is a terrorist or a criminal, this criterion is in the hands of the court. If it receives an official document from the court or the police to assist in the investigation, HSBC will be happy to assist.
Before that
HSBC will not presuppose a position. It suspects that a person or an organization is involved in criminal activities, terrorist activities or other activities that endanger social security. HSBC has neither the right nor the ability to identify.
I am answering this way. I don¡¯t know if Senator Michael Bay agrees. If there are questions with unclear meanings, please feel free to ask them. "
Well¡¡
Senator Michael Bay was at his wit's end. He shook his head and sat down on the chair without making a sound.
The whole process lasted four and a half hours. Senator Mark Warner, who presided over the hearing, officially announced the end of the hearing, and everyone breathed a long sigh of relief.
As for the result?
The investigative hearing is over, mainly to answer the concerns of senators and gentlemen.
? According to the procedure, the real result has to be made by the Anti-Monopoly Bureau of the Ministry of Justice, and there is no result for you in the investigative hearing.
When packing up the documents and leaving Capitol Hill, Paulson came over and shook hands with Wang Yaocheng warmly; "Hey, buddy, you did a good job today. I spent the whole afternoon behind the desk for nothing, but I only answered two questions."
"Paulson, are you making fun of me?" Wang Yaocheng's voice was a little hoarse.
"Hehe, let's go fishing together if we have a chance. We are the best partners. Let's see if we can break the historical record."
"Thank you for the invitation, my friend, and my answer is why not?"
"Hahaha it's a deal."
Although Wang Yaocheng was mentally and mentally exhausted, he was in high spirits. He knew that it was not easy for Paulson to come to help the platform today. Even though it was just two problems, his statement of this magnitude was decisive.
Good friends don't talk about thank you, just keep silent. (Remember the site URL: www.hlnovel.com - Didn't finish reading? Add this book to your favoritesI'm a member and bookmarked this chapterCopy the address of this book and recommend it to your friends for pointsChapter error? Click here to report
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