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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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Posts Tagged ‘ Household International ’

23 February
Posted in General News
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New admiration for Stephen Green, chairman of HSBC

I have a new admiration for Stephen Green of HSBC. Stephen Green, chairman of HSBC makes a good argument in his new book about banking: Good Value: Reflections on Money, Morality and an Uncertain World. Green is also an ordained priest in the Church of England. In his book, he [...]

15 February
Posted in General News
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Vietnam and the downward facing dong

HSBC wants to play in Vietnam, and we found this picture that represents Vietnam’s currency conversion. On the other hand it might represent what may people think of HSBC in the United States: Some folks say it’s not nice to make fun of Vietnam. After all, the country was just [...]

19 January
Posted in General News
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Proposed HSBC tax adds more cost to HSBC Finance

President Obama proposed a tax on US banking operations, including foreign banks operating in the United States. Americans want to see bankers slapped around a little, after reporting huge profits and bonuses, but doing little to restart the economy. HSBC has total liabilities of $391 billion in the United States. [...]

30 December
Posted in Subprime
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How HSBC’s example started the housing crisis

Before 2006, roughly 2 percent of subprime mortgages ended up in foreclosure, industry data show. But in the Long Beach Mortgage Loan Trust 2006-4, at least 44 percent of these mortgages ended up in foreclosure, according to an Investigative Fund analysis, with the help of RealtyTrac, a real-estate data company. [...]

19 December
Posted in General News
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HSBC rocks the news world with mistakes, moves, gaffs, and fines

HSBC Headquarters is moving. The Buffalo News reported that HSBC North America Holdings will move its legal headquarters from Illinois back to New York City in January, as the British banking giant refocuses its U. S. strategy on basic banking and credit cards, not consumer finance. There must be some [...]