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 …

Siddharth N. "Bobby" Mehta New TransUnion CEO

Here is positive proof that a person can be successful after running a subprime operation for HSBC while losing billions of dollars. Originally with Household International, which was charged with predatory lending and later purchased by HSBC, many thought Siddarth (you can call me Bobby) Mehta was in over his head. Mehta was summarily dismissed …

Article puts a name and blame for mortgage problems

It was inevitable and we talked about it since 2002. HSBC bought predatory lender Household International in late 2002 and finalized the purchase in early 2003. Name liability and associating HSBC’s name and reputation with shady lender Household International was not wise. Ignoring the obvious, HSBC started to become associated with income tax lending, high …