Household HSBC Watch

Wednesday, August 10, 2005 - Freddie Mac - The Federal Reserve System’s (Fed) Beige Book (a periodic report on economic conditions across the twelve Fed districts) indicates that the strength of residential real estate markets is widespread, with the exception of the seventh and ninth districts (covering the states of North Dakota, South Dakota, Iowa, Minnesota, Illinois, Wisconsin, Indiana, and Michigan) These two districts had mixed real estate performance by location and market segment due to employment weakness in manufacturing and other local industries. Freddie Predicts Refi’s To Drop Another 22% Next Year. “This is why HSBC, through the old Household International unit, has moved to questionable credit card operations as evidenced by consumer complaints” said advocacy organization Household - HSBC Watch. “Their predatory mortgage operation is too visible these days, thus effecting HSBC profits once again” the group said.