A Tuesday night episode of Boston Legal exposed the credit card industry for what they really are. When any industry goes beyond what is reasonable and prudent in the interest of profit it is a travesty. Boston Legal put the industry on prime time for what they really are, but the show contained a quote we find interesting. “We are one of the largest law firms with offices in London and HongKong”

HSBC Bank PLC, the new owner of predatory lender Household International, has headquarters in London and HSBC stands for the Hongkong Shanghai Bank Corp. In addition, narrative about credit card companies ‘gnawing on the bones of Americans’ while pretending to be your friend also points directly at HSBC’s method of operation. A once-proud banking institution, HSBC publically stated plans to export the “Household Model” to other countries around the world. Let the gnawing begin in countries like Brazil and India.

And at HSBC Finance Corporation, which is Household International’s new name, rackteering and corruption charges against Household and H&R Block are still active even after Household complained to the U.S. Supreme Court that the case was unfounded. If one is charged $110 dollars to borrow $500 for nine days that seems like loan sharking, another term used on Boston Legal.

Boston Legal can be seen on ABC Tuesday nights at 10, 9 central. Crane Poole & Schmidt was founded on the ideal that everyone deserves their day in court. HSBC, on the other hand, believes everyone should be strangled by binding arbitration. James Spader as Alan Shore hit the nail on the head with his outstanding facts about the credit card industry.

Related posts:

1. Five credit card companies have 80 percent of market
2. Credit card price fixing suit could cost industry over $100 billion, experts say
3. New HSBC credit card launched
4. HSBC to watch retailers’ credit quality
5. Household International Runs HSBC US Credit Card Business