” The World Bank has identified corruption as the single greatest obstacle to economic and social development. It undermines development by distorting the rule of law and weakening the institutional foundation on which economic growth depends. The harmful effects of corruption are especially severe on the poor, who are hardest hit by economic decline, are most reliant on the provision of public services, and are least capable of paying the extra costs associated with bribery, fraud, and the misappropriation of economic privileges. ”
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Household – HSBC Watch consumer advocates monitor RICO charges against Household and HSBC, indicating that the American way is to think everyone is “innocent until proven guilty.” However, the position of the World Bank also reflects the position of responsible citizens and intellectuals in each country. “It’s easy to see a correlation between predatory lending as an attempt to corrupt part of society and the relative effect it has on the rest of the world, and America’s standing in the world” said Household – HSBC Watch. “Weakening one part of America corrupts America as a whole, and CEO’s, CFO’s and Chairmen should be held accountable” said Household – HSBC Watch.

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