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 proposes a “new capitalism” that brings good business and good ethics together. He says moral and spiritual values should take precedence over immediate profit.

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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.

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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 advantage for HSBC.

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