HSBC employees blame customers, management for cutbacks

Those attempting to defend HFC and Beneficial like to say “we don’t make that kind of loan anymore” or defend the company in other ways. While some former employees speak of customer abuse when they were with HFC or Beneficial, others comment on positive changes. Other than a small $10 million settlement for credit card …

How HSBC Failed On the World Stage

Why did the subprime money pipeline shut down? And which bank was buying mortgages from brokers and lenders? HSBC of course. Subprime and second mortgages were to HSBC like Household International was to predatory lending – an easy ride to profits. Or so they thought. Second mortgages? Sorry, but HSBC has little or no security …

Cerberus and HSBC Finance Corporation

Cerberus Capital Management LP is one of the largest private equity investment firms in USA. Cerberus Capital Management LP bought 80-percent of Chrysler Group for 7.4-billion dollars. The deal unwinds a 1998 merger. DaimlerChrysler will change its name to Daimler AG. Chrysler will become Chrysler Holding LLC. Under the deal, Daimler will keep a 19.9 …