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Household HSBC Watch is a watchdog and consumer advocacy organization.
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
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On March 14th Bloomberg was reporting HSBC writedowns and losses as follows:
Writedowns: $3 Billion
Credit Losses: $9.4 Billion
Total: $12.4 Billion
That puts HSBC in fourth place. Leading HSBC in losses and writedowns were 1) Merrill Lynch, 2) Citigroup, and 3) UBS.
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