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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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Profits from other countries support HSBC Finance

Pertaining to HSBC Finance and the division’s subprime position we often ask if the former Household International unit is making money. The following information comes from the website CFO.com as HSBC’s Iain Mackay explains how other parts of HSBC keep pumping money into HSBC Finance.

Obviously HSBC’s ‘Household Model’ is not sustainable in all economies. The question is whether it is a good model for emerging economies, or is it sustainable at all.

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