HSBC is listed as the eighth largest subprime originator because of its purchase of Decision One in 1999 and Household International in 2003. From 1999 to 2008 HSBC donated more than $6.4m and spent $21m on lobbying activities in Washington.
In 2003, however, HSBC stated that HSBC did not spend money to influence politicians, and said the practice did not reflect HSBC policy. It did reflect Household International’s policy.
John Bond was in charge of HSBC at the time. In an article we explained Bond’s frustration and William F. Aldingers political action efforts.
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