HSBC bought a failure in 2003 when the bank bought Household International. Why couldn’t HSBC turn the failure in to a profit center? Because real bankers do not understand finance companies. London was far removed from a branch manager trying to collect from a customer. Simply said, when HSBC bought William […]
In a news article from late last week titled “Business big shot: Michael Geoghegan” we see the power of algorithms and content matching. Although I do not know what the article was really trying to prove, the Times Online also suggests other relative articles. One related article is titled “HSBC profit falls […]
Cassandra was the young and beautiful daughter of Priam, the last king of Troy. Apollo bestowed upon Cassandra a special gift—the ability to see the future. The problem with the gift was she could see the future but could not do anything about it. Analysts and economists said for many years that […]
Before William F. Aldinger sold his company - Household International - to HSBC his logic about people and repayment of loans was simple. Aldinger thought people would always make their house payment and their car payment, regardless of how they were treated. For a number of years the logic held true. Then […]
As HSBC continues to hemorage red ink in the United States some are asking if HSBC will replace Chairman Stephen Green with CEO Michael Geoghegan. Under pressure from activists at Knight Vinke and others, it appears as though HSBC will make more changes. Some ask if ousting Green will be enough. […]
HSBC and Vodafone have pulled advertising from social network site Facebook over concerns that their ads were appearing next to a far-right British political party’s content. Mobile phone giant Vodafone and HSBC’s online banking arm First Direct suspended their Facebook ads, fearing their brands would be sullied if linked to the British National Party […]
Further proof that the John Bond - William Aldinger Household International deal of almost five years ago was a stinker is about to slap HSBC hard. Left to there own predatory devices Household International would have gone bankrupt in 2003. As proof of how bad Household International was, it took most other […]
June 27 — HSBC Holdings Plc Chairman Stephen Green ruled out spinning off the bank’s Asian operations, saying the world’s third-largest bank by market value is able to serve its customers better because of its size. There’s “no good reason’’ to break up HSBC, Green said at a briefing in Hong Kong […]
Look for signs of consolidation and streamlining as HSBC possibly looks to clean up their United States image by unloading predatory lender Household International, now called HSBC Finance Corporation. The North American division accounted for almost two-thirds of HSBC’s $10.6 billion in loan-loss provisions for 2006. HSBC earned $4.7 billion before tax in North America […]
“The most recent high profile mortgage distress signal came from HSBC, the world’s third largest bank in marketcap size behind Citigroup and Bank of America. What an unmitigated disaster their acquisition was in 2003 of Household International, a lender to subprime borrowers. HSBC increased their loan loss reserves to $1.38 billion in Q3 from $1.25 […]
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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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