Guardian Reports HSBC Unsecured Loans Souring

The Guardian reported on Sunday, one day before HSBC is due to release half-year results , that HSBC’s unsecured portfolio is experiencing bad debt. Analysts imply that subprime mortgage blues have spread to other parts of HSBC. Antony Broadbent, banking analyst at Sanford Bernstein, expects the bank to warn that there has been an increase …

Sri Lanka Treats HSBC Cardholders Better Than U.S. Cardholders

In Sri Lanka HSBC credit card customers are far ahead of those in the United States. When one reads our “Live Complaints” section you see that Americans who have store credit cards cannot pay their bill at the store. A store credit card is, for instance, a Best Buy or Menards or Costco credit card. …

Nobody Feels Sorry for HSBC Finance

Once again William F. Aldinger’s sale of Household International to HSBC gets uglier. Stocks in Europe dropped the most in a month yesterday, while U.S. stocks fell for the first time in six days. Moody’s Investors Service cut the credit ratings on $5.2 billion of bonds backed by subprime mortgages. “Inevitably there is nervousness about …

Qatar Youth Get HSBC Headstart, Americans Get The Shaft

In Qatar HSBC held a savings day for its ‘Headstart’ account holders. The grand prize of an Acer computer with an LCD monitor and printer was won by 10-month-old Marrey Trixie. Headstart accounts are available to all children up to 18. Meanwhile in the United States there was little joy as customers were rewarded with …