HSBC leaders in the UK think the U.S. subprime disaster has subsided. Mr. Geoghegan acknowledged that some homeowners are still having difficulty repaying their mortgages, and the situation in the U.S. is complicated by market volatilities resulting from the upcoming presidential election and inflationary pressures. Presidential election? How about a doubling of gasoline prices as a more realistic reason? This is what Geohegan actually sees at HSBC Finance, whether he admits it to the general public or prefers double-speak instead. HSBC gets a feather in their cap for helping troubled homeowners. Within 60 days the same homeowners are in trouble again.
Archive for » May, 2008 «
In the earthquake shattered region of China people are suffering and donations are being received. The Chinese, however, are saying that major banks such as HSBC are donating very little compared to what they actually make. National Business Daily (NBD) pointed out that these overseas financial firms, which include HSBC, Goldman Sachs, and Citigroup, have enjoyed favorable prices as strategic investors in Chinese listed banks, and have found investing in China’s banking industry to be highly profitable. HSBC is the Hong Kong Shanghai Bank Corp - but they moved to England.
Category: 2007 HSBC
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How are HSBC and high gasoline prices related? Prices are driven by speculators. We “are experiencing demand shock from a new category of speculators: institutional investors like corporate and government pension funds, university endowments, and sovereign wealth funds,” said Michael Masters, managing member of Masters Capital Management, a Virgin Islands-based hedge fund. “Index speculators are the primary cause of the recent price spikes in commodities.”
Category: 2007 HSBC
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How are HSBC and high gasoline prices related? Prices are driven by speculators. We “are experiencing demand shock from a new category of speculators: institutional investors like corporate and government pension funds, university endowments, and sovereign wealth funds,” said Michael Masters, managing member of Masters Capital Management, a Virgin Islands-based hedge fund. “Index speculators are the primary cause of the recent price spikes in commodities.”
Category: 2007 HSBC
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When news rules are needed or suggested, cause and effect implies abuses prompted the action. At HSBC Finance things could not get much worse for HSBC, and always seem to get worse for customers. That may change as new credit card rules have been proposed. Under the plan, banks could increase the rates they charge borrowers on future purchases. But they would not be allowed to hike rates on outstanding balances, as they can now.
Category: 2007 HSBC
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