A controversial bonus scheme which could net five senior directors of banking giant HSBC more than $240 Million over the next three years has been approved by shareholders, although there was opposition. Only 82 percent of those who voted were in agreement. Eight percent of voters abstained, while 11 percent were in opposition. Americans view this as a problem, and do so in a different light. HSBC is one of a handfull of banks exploiting a loophole that allows speculation which, in turn, is driving gasoline prices sky high to record levels. Also a major player in subprime, foreclosures continue. Reports from employees and former employees tell of loans that never should have been made.

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HSBC Plc sees Islamic finance as a profit center, pushing Amanah in metropolitan areas around the world. Let there be no doubt that HSBC is catering to potential customers around the world, not just in the Middle East. The problem, as we see it, is HSBC may get caught in the middle if women’s rights are discussed. How will HSBC address the issues? When my father was a contractor in Saudi Arabia my mother was restricted in what she could do - even though she was an American. In 2007 more women killed themselves in Afghanistan than ever before. In Egypt a woman cannot leave the country without her husband’s permission.

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HSBC Finance Corporation’s card and retail services business has introduced a credit card that gives consumers the opportunity to use earned rewards to make a contribution to a variety of environmental causes. It does not take long to realize that 70 percent consumer dissatisfaction with HSBC credit cards (see our poll) indicates an overall problem inherent to HSBC Finance. The division of HSBC was formerly known as predatory lender Household International. EcoSmart is a cute name, but one would be smart to stay away from any credit card by HSBC.

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HSBC Finance signs unsuspecting persons to home loans, only to foreclose and own the property. Is the same logic applied to HSBC Towers? Spanish ownership of the £1.1bn HSBC Tower is under threat after it emerged the owners were struggling to meet a deadline to refinance debt on the building. Metrovacesa, the Spanish property group that bought the tower from HSBC for £1.1bn last year, is believed to be struggling to raise the extra equity to refinance the £810m short-term loan HSBC underwrote to finance the deal. Will HSBC help them? A bailout, along the lines of subprime bailouts in the United States?

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The issue will be approved or disapproved this Friday. Here is who would benefit and who would not benefit from a proposed pay and bonus structure at HSBC. HSBC’s chairman Stephen Green, who earns a basic salary of £1.25m a year, will not benefit from the bonus scheme. The bank’s chief executive, Mike Geoghegan, could earn as much as £4m in bonuses, on top of his £1m-a-year salary, and up to £7m as part of the bank’s long-term incentive plan, according to the proposals. Douglas Flint, the finance director, the Asia chief executive Sandy Flockhart and chairman Vincent Cheng are also proposed beneficiaries. Stuart Gulliver, HSBC’s markets head, and the highest paid executive at the bank, is not included in the new structure.