HSBC Watch News Release Forum Index
Forum Name: - Social Responsibility
Topic Title: Huge Corporate Assets Allow Law Breaking
Thu Nov 04, 2004 8:57 am
Citi Corp has assets in excess of US$80 Billion. Fined over predatory subsidiary CitiFinancial, nobody missed the money.
Bank of America was fined a total of almost US$2 billion and never missed it.
HSBC assets are great enough that Household - HSBC North America Holdings may do what they want, and the fines will be small compared to the profit taking.
There is no social responsibility these days.
Individual responsibility is the key. Send Chairmen and CEO's to prison and it gets their attention.
But then you always have some like Kenneth Lay, claiming to be so high up on the company or corporate ladder that they "did not know" what is and was going on.
Class action means the corporation is laughing at you but lawyers are happy.
"SEC fines" mean the corporation doesn't admit guilt and profits outweighed the settlement.
Racketeering charges simply mean they got caught, but profits still overshadow the fines and bad publicity.
Prison, on the other hand, usually wakes them up and sets an example. Except when it is a prison term like Martha Stewart received.
Final thoughts: HSBC will protect their own and let the buyer and consumer beware, both in America and England. No fine, lawsuit, censure, solicitor, lawyer or customer while stop the abuse. It has gone on too long.
If the American public wanted to put Household International out of business and William Aldinger in prison for what the company did in 2002 and prior years, such desires became impossible when HSBC made their buyout offer and regulators only fined the company US$484 million.
HSBC became the enabler and facilitator, Aldinger runs HSBC North America (still Household International), and nothing changed. There is too much money and power to change anything now.
I would love to see aggregated thoughts about this topic.
Sat Nov 13, 2004 8:55 am
Insulation
The squaliformes are led from the top of their own executive food chain.
Not only are they insulated from prosecution by their wealth and ability to amass legal expertise to guide them away from responsibility when things go wrong, they also like to display the image that they are plausibly ignorant about what their underlings do to victims.
The story is getting as old as the Emperor's New Clothes.
Attempting to blame a few rogue elements in an organization smells like garbage after a week in the sun.
Any executive with three operating brain cells could gain control of predatory lending elements or abusive practices in his or her company. It's nothing more than a matter of will. The evidence of how to treat people with respect and with honorable intentions dominates among reputable businesses led by men and women with truly honorable intentions.
The fact is, those who would be brought to trial and appear in this Court are led by executives who like to insulate themselves and the other members of their boards of directors from responsibility for inculcating a climate of make-the-numbers-no-matter-what all the way down into the customer-facing operations.
Here west of the Pecos they would be subject to logic and appropriate retribution for their collective greed and avarice at the expense of victims.
As it is, they rub shoulders with the financial elite and find ways to pass money around to influence the right politicians to not only maintain the quality of their hunting grounds, but to improve on their chances of not having to worry about justice.
But names are going to be named here. It is time for the public to find out more about the squaliformes dictators, leaders and down-in-the-depths wranglers. The list at the left of the blog will soon display a hall-of-shame of individual shark wranglers.
By the order of this Court, protection from public disdain is hereby lifted.
To the squaliformes leadership, your family, friends and neighbors are going to learn a lot more about you in the near future.
The Honorable Judge Roy Bean.
# posted by Judge Roy Bean @ 11:36 PM 0 comments
Creditoris Squaliformes (loan sharks) blog
Sat Nov 13, 2004 6:10 pm
Anonymous wrote:
But names are going to be named here. It is time for the public to find out more about the squaliformes dictators, leaders and down-in-the-depths wranglers. The list at the left of the blog will soon display a hall-of-shame of individual shark wranglers.
By the order of this Court, protection from public disdain is hereby lifted.
To the squaliformes leadership, your family, friends and neighbors are going to learn a lot more about you in the near future.
# posted by Judge Roy Bean @ 11:36 PM 0 comments
Creditoris Squaliformes (loan sharks) blog
By the order of this Court, protection from public disdain is hereby lifted.
To the squaliformes leadership, your family, friends and neighbors are going to learn a lot more about you in the near future.
# posted by Judge Roy Bean @ 11:36 PM 0 comments
Creditoris Squaliformes (loan sharks) blog
While I do not advocate violence or retaliation, just look at how much most people can take.
After the attacks of September 11 and the collapse of the World Trade Centers, President Bush reminded Americans that Muslims in the United States were not to blame. Three years later the violence continues around the world.
The Dutch and Thai's have had enough. Had the current attacks taken place immediately after 9-11 it would have been considered barbaric lashing out. Now, as with predatory lending, the population has had enough and people are making that point perfectly clear. Muslim violence and unrest throughout the world is intolerable. Random kidnappings and beheadings shall perhaps bear a high price.
With the high cost of gasoline, and the winter fast upon us along with high heating costs, Americans look to the holidays. Random violence from customer service reps and bill collectors are unwarranted if the loan or credit card turned out to be predatory.
Random kidnapping of one's credit report should meet with swift and decisive retribution. Take the holidays away from average Americans by hijacking their good credit and it may cause a surge in public outrage. Christian, Muslim, athiest, Buddist and Jew agree on one point. Don't abuse or take advantage of the family!
The days of paying for insurance company kickbacks and Household International - HSBC predatory loans should be over, as should genocide in Africa and violence in the Middle East.
Sun Dec 19, 2004 11:35 am
Please focus this topic back to predatory lending. While I understand using examples, the issue of this website is predatory lending, HSBC and Household International. We have many international visitors. Please explain your point so all can understand.
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.