HSBC Holdings PLC isn’t interested in buying Morgan Stanley, a person familiar with the bank said Friday. “HSBC has made clear in the past that buying an investment bank is not on its agenda,” the person added. “HSBC feels Morgan Stanley is not worth pursuing.” It appears as though HSBC is not interested […]
This is a perfect example of HSBC’s exportation of the Household International model of doing business. Credit card interest rates have been increased to as high as 50 percent in India. While proud of making a profit in developing nations HSBC is not alone. ICIC, Deutsche Bank, SBI and HSBC have either […]
HSBC Bank USA is still scrambling to recover after its core banking computer system mysteriously crashed Sunday, preventing it from recording withdrawals and deposits, and wreaking havoc on consumers and businesses nationwide. Computer crashes and angry merchants are nothing new for HSBC. I’m sure there is a battle plan in place to put […]
This excerpt from an article published in Bahrain tells exactly where HSBC wants to be, but does not address why HSBC Auto Finance shut down in the U.S. “Euro Motors, the exclusive importer of BMW cars in Bahrain, has signed a financing partnership with HSBC to provide BMW and HSBC customers with financial services […]
The mortgage market and the number of repossessions — their term for foreclosures — in the United Kingdom are bad and getting worse. For motnhs we wrote that the UK is a bellweather for the United States, where the situation is also getting worse. There is one common denominator, however, and that common […]
HSBC said the bank would export the business model of Household International, purchased by HSBC in 2003. As disturbing as it sounds, HSBC bragged about exporting the so-called “Household Model” even though history will show the model as a predatory lender. Subprime losses in the billions of dollars showed a failure. Pragati […]
“It is clear that growth models in our industry based on high and increasing leverage will no longer be sustainable,” said HSBC chairman Stephen Green. Changes are being made at HSBC, partly to appease Knight Vinke. Don’t tell Green, however, because he wants the world to think it is all his idea. […]
With smoke an mirrors the magic trick of HSBC and global profits seems real. Despite warnings that the momentum of growth in emerging markets is slowing down, Michael Geoghegan, CEO of HSBC Worldwide, is still betting on India as a high growth story. We need to know Geoghegan’s position on exportation of the […]
The following is reprinted with permission. We thank Peter for keeping us updated. If you think you know your bank, or if you bank at HSBC you need to read this article. I personally think this is the business model HSBC Finance would adopt in the United States if it was legal. […]
More U.S. banks may fail after the collapse of mortgage lender IndyMac Bancorp Inc, straining a financial system seeking stability after years of lending excesses. More than 300 banks could fail in the next three years, said RBC Capital Markets analyst Gerard Cassidy, who had in February estimated no more than 150. Face […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
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