Big Bank says “No more money!”

Don’t give money to deadbeats.
“Stephen Green, HSBC’s current chairman, said the London- based bank regrets the 2003 purchase of Prospect Heights, Illinois-based Household International, which added almost 50 million U.S. clients, many with spotty credit histories.”

Don’t give money to thieves, either.

“HSBC also confirmed that it lost about $1 billion in the alleged investment fraud by Wall Street financier Bernard Madoff.”

From:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aqP4Jt4H2UpU&refer=home

and (the following site will open obnoxious popup windows if you have javascript enabled)

http://hosted.ap.org/dynamic/stories/E/EU_BRITAIN_EARNS_HSBC?SITE=CAANR&SECTION=BUSINESS&TEMPLATE=DEFAULT&CTIME=2009-03-02-08-06-37

Leave a Reply