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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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HSBC more collateral from Lehman before collapse

By Sept. 9, Lehman was falling apart. Two potential investors — Korea Development Bank and the Investment Corp. of Dubai — backed out. Two clearing banks, JPMorgan (JPM) and HSBC (HBC), demanded significantly more collateral from Lehman. Credit rating agencies Fitch and Standard & Poor’s put Lehman’s rating on a negative watch. And Lehman’s share price had collapsed to $7.79.

See the full article from DailyFinance titled “Lehman Report: Why the U.S. Balked at Bailing Out Lehman” by ABIGAIL FIELD.

Posted By Timothy Blake

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off