Sentencing guidelines that had been in effect in federal courts could call for a sentence well in excess of ten years for some convicted CEO’s because sentences would be ratcheted up in accordance with a huge dollar loss in the crimes involved. But the guidelines are no longer mandatory under a recent U.S. Supreme Court ruling, notes George Newhouse, a lawyer at Thelen Reid & Priest. For instance, Newhouse predicts a sentence for Ebbers of somewhere between five and ten years.
Archive for the Category »Political Connections «
A recent visit to Household International’s political action website at www.hihsbcgr.com shows that William F. (Bill) Aldinger’s photograph no longer greets web visitors. Still bearing the HI name, this part of HSBC was, and still is, in violation of HSBC corporate policy according to Sir John Bond. In fact Bond said HSBC does not have any PAC activity. Later he found out Aldinger must of failed to mention it. For more issues where Aldinger and Bond clashed see this forum.
President George Bush signed the new bankruptcy bill into law today, April 20, 2005. Bush already signed a landmark bill that makes it easier for defendants to move multimillion-dollar class action lawsuits to federal court. Playing directly into the hands of predatory lenders such as William Aldinger’s HSBC (Household International) Bush fails to realize the effects of predatory lending. “It is a known fact that many Americans are one severe medical illness or catastrophy away from bankruptcy” said advocacy organization Household - HSBC Watch. “Bush played right in to the hands of big business while sacrificing the average hard working American. Any legislation backed and supported by predatory lenders such as the former Household International should never pass, but it is too late now” said the group.
The U.S. Postal Service wants to strike another deal to offer discounts to boost first-class mail volume and save money by destroying rather than returning a company’s undeliverable mail. The negotiated service agreement with financial services company HSBC North America Inc. of Prospect Heights, Ill., would be the fourth such agreement proposed by the Postal Service. The first agreement, with credit card company Capital One Services Inc. of McLean, Va., generated $21.7 million in savings and revenue in its first year for the Postal Service.
The opinion section of the Santa Cruz Sentinal published this commentary. Bankruptcy reform is another issue favored by predatory lender HSBC and subsidiary HSBC Finance Corporation which was the old Household International. Here is the commentary:
