Household HSBC Watch

Seen in the Baltimore Sun, June 26, 2005: Eileen Ambrose wrote “Think long and hard before cracking open that nest egg.” In her article she said “NEXT MONTH, the oldest of baby boomers will turn 59 1/2 , that magical age when they can tap tax-deferred retirement accounts without penalty. This means that after decades of accumulating assets — let’s hope — boomers are nearing the time they’ll retire and begin to spend down assets.”

Analysts at Household - HSBC Watch said those whose homes are tied to predatory mortgages and people who were tied to predatory aspects of HSBC and Household International will not reap the benefits seen by others. “Either their payments are too high, equity was stripped, or they are upside down in their home. Their budget is too far out of balance.” said Household - HSBC Watch.