HSBC tried to sell the bank’s London headquarters but ended up foreclosing. Now the bank is selling HSBC’s Manhattan New York headquarters, with HSBC leasing back the property for at least ten years. The Manhattan deal comes with an interesting twist. HSBC must consider a sale and lease-back agreement with an Israeli company while attempting to gain a foothold in Arab countries.

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Fitch Ratings has withdrawn HSBC Finance Corporation’s U.S. residential mortgage servicer rating as follows:

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A survey showed the AIG name as one of the most hated brands. Marketing was one of most disliked words, as AIG tried to put a positive spin on parties, bonuses, bailouts and losses. The U.S. Government bailout of AIG angered many. What is HSBC’s relationship to AIG? How much did HSBC receive from AIG?

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Potential regulatory flight and lower taxes may be behind HSBC’s move from London to Hong Kong. This appeared in Business Insider:

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The brother-in-law of New York businessman and prominent Democratic fund-raiser Hassan Nemazee was charged Friday with allegedly helping Mr. Nemazee in a scheme to defraud three banks out of $292 million in loans.

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