Household HSBC Watch

How bad are foreclosures at HSBC Finance? I thought people were getting a lot of phone calls, judging by the reports and complaints we receive. Some idiots, like NovaStar, were calling home owners early in the month, even before the payments were due. I thought these subprime lenders were checking to see […]

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 […]

HSBC Securities Services is known to be Lehman’s trustee across multiple jurisdictions, said Asian Investor. “The current crisis will no doubt put its trustee function to its most strenuous test to date. After multiple calls to various business heads of the group, no one has been able to respond to AsianInvestor’s question on what […]

After issuing ultimatums and deadlines to Korean authorities, and forgetting to submit a new application, HSBC finally gave up on Korean Exchange Bank (KEB). Lonestar was involved, the courts were involved, and eventually somebody from Lonestar, Paul Yoo, was found guilty. Here is how you clean up all of this mess when you […]

The FTSE fell to its lowest point since 2005, following a horrific day on Wall Street which saw the DJIA drop 449. On the FTSE for September 18, 2008, Lloyds TSB was flat, while HBOS sank. HSBC and Royal Bank of Scotland lost 4.6 and 10.4 per cent respectively. British bank […]

HSBC’s Guyerzeller unit will lose its name and will be known as HSBC Private Bank (Suisse) SA, which is already the name of a second unit. The two units currently employ 2,000 people and have assets under management of CHF 190 billion. When HSBC contemplated buying UBS and others, somebody probably pointed out that […]

HSBC is interested in HBOS but does not want to pay for it. Perhaps HBOS should pay HSBC for the “high honor” of HSBC’s interest? According to a report on website www.Telegraph.co.uk, Lloyds TSB Group is in talks to acquire HBOS, Britain’s biggest mortgage lender. The article says the prime minister has […]

In a lesson plan, designed to teach about predatory and subprime lending, we asked this question of students in 2005: “What is the impact on a country’s economy if predatory lending is left unchecked?” Three years later the answer is clearly obvious. As of today the world has seen over $515 billion […]

Here is breaking news from Saudi Arabia involving HSBC and the Bin Laden family. The Saudi Binladin Group successfully completed the issuance of a privately placed SAR Sukuk of finance raising more than SR1bn from the capital markets in Saudi Arabia. This is the Saudi Binladin Group’s first go at the Saudi debt […]

Stephen Green of HSBC seems to lack an overall understanding of HSBC Finance. Speaking to the BBC, Mr Green commented: “There has been far too much focus on payments that are very short-term focused, people who pick up the tab for short-term profits, without having to bear the costs of long-term impairments.” Sorry […]