It has been ten years since consumer advocates started Household - HSBC Watch. Sometimes we wonder where the years went. Ten years ago we started a single web page on a free server. Now we have over 3000 visitors every day. Part of the traffic obviously is a result of the […]
We saw this on September 16th: “Investment banks must move quickly to strengthen their balance sheets and address their lack of funding if they are to come out of the current financial crisis unscathed, a senior banker at HSBC has warned.” A warning from HSBC? Acting like a global authority HSBC fails […]
A drug dealer spreads poison through the neighborhood while encouraging thefts, robberies, and burglaries to pay for the drugs. Drugs poison our neighborhoods, cities, and towns. Investment banks and global banks are no different if they sold poisoned merchandise. Take the case of Lehman Brothers. Lehman was the dominant marketer of […]
HSBC computer problems continue for a fifth day as customers nationwide deal with the frustration. Last Sunday pat of HSBC’s computer system failed “for unknown reasons” and failed to track deposits and withdrawls. Some customer balances are still not correct today. Bank spokeswoman Linda Recupero reiterated that “most all of the impacted […]
Earlier today we reported on stronger rules in the GCC. Now it is India taking new initiatives. Proposals by Indian regulators in October to curb offshore investment vehicles used by hedge funds triggered a panic among investors that halted trading on Mumbai exchanges for an hour and wiped out $100 billion of value […]
Concerns of a global economic slowdown, tensions over Iran and selling by foreign investors across several Gulf Arab bourses depressed regional benchmarks. Stocks also fell on reports the Central Bank of the United Arab Emirates is planning to tighten rules on lending to help rein in inflation. “To be honest, the whole atmosphere in […]
“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 […]
Other banks and investment banks looked for foreign capital and losses continued. In some cases it was a further erosion of American companies. HSBC plc is the same, although as a global bank it is easier to disguise. HSBC needs money. HSBC Holdings has met with China Investment Corp (CIC), China’s […]
HSBC is in a push to grow its lending to middle-market businesses nationwide by targeting firms that need its international capabilities. Whether these firms (businesses) need HSBC services remains to be seen. We are certain HSBC will then push the businesses for HSBC credit card processing and HSBC merchant - private label - […]
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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.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
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