Friend of Predatory Lenders Bob Ney Incarcerated

WASHINGTON – Former Ohio Congressman Bob Ney was sentenced Friday to 30 months of incarceration for his role in the Jack Abramoff influence-peddling scandal. The Justice Department had asked for a term of 27 months in prison. Ney, the only member of Congress charged in the scandal, pleaded guilty last October to conspiracy and making …

HSBC admits buying Household International was a disaster

“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 …

HSBC Complaints 2007 – Interactive

As we continue to monitor HSBC 2007 promises to be a banner year. We created a new interactive section where we will post your HSBC complaints. Interactive because you participate. Comment on any issue. The new section is here, at http://hsbcwatch.com/hsbcw/news/ For bloggers the RSS feed of the new section is http://feeds.feedburner.com/HsbcWatchInteractive The new section, …

Mexico ministry to probe former finance minister's HSBC board post

MEXICO CITY (MarketWatch) — The Mexican Ministry of Public Functions said Tuesday it will look into complaints of conflict of interest against a former finance minister, who was appointed this month as an independent director on the board of U.K.-based banking group HSBC Holdings PLC (HBC). Francisco Gil Diaz, who was finance minister from 2000 …