A group of hedge funds is telling the U.S. Securities and Exchange Commission to be on the lookout for manipulation of bonds backed by subprime mortgages.

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Many suspect a racketeering case will eventually include electronics retailer Best Buy and HSBC. At issue is ongoing compensation to Best Buy due to payments HSBC says are “late” when in fact they are not. However, Best Buy is already wrapped up in a racketeering case, this time with Microsoft. In the Microsoft - Best Buy case customers were duped, and again the charges were part of their HSBC bill. An attorney for Best Buy recently admitted to altering documents.

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HSBC is making inroads into Viet Nam regardless of the country’s human rights record and public sentiment in the U.S. and other coutnries. In Washington Vietnam’s president heard a barrage of criticism Thursday during his historic visit to Washington, with angry U.S. lawmakers saying ties between the former enemies will stagnate until Vietnam’s dismal human rights record improves. Criticism of HSBC’s desire to make a dime in Viet Nam regardless of public opinion reflects poorly on the bank. Others say it merely reflects the new methodical HSBC approach to predatory lending featured at HSBC Finance Corporation.

When asking if poor Internet banking is limited to United States users, or simply HSBC Finance customers, HSBC is saying one thing while live reports are saying something else. A totally different picture is revealed in complaints about HSBC online payment websites. (see more)

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In the U.K. tens of thousands of new graduates will be hit by overdraft interest payments after HSBC announced plans to become the first high street bank to scrap free borrowing for university leavers.

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