Tuesday, Sep 12, 2006

HSBC couldn't organise a p...... brewery

Guardian: HSBC cracks down on its overdrawn customers

Despite the article yesterday regarding HSBC and it's incredibly dangerous exploits into the world of 'buy with your mates' mortgages, they are in fact very worried about bad debts.

And to think that the fun hasn't even started yet.

Tomorrow I remove all my savings from this freakshow of a bank.

Posted by inbreda @ 01:59 PM (546 views)
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3 Comments

1. Dohousescrashinthewoods said...

It seems like the financial climate is changing.
Banks are losing a rapidly increasing amount to bankruptcy and IVAs.
I suppose the easier it gets to declare bankruptcy, the harder it will become to get credit.

Tuesday, September 12, 2006 04:52PM Report Comment
 

2. Delboypass said...

Sounds like the same old trash...
1/ Annual reviews - is that quick enough to save anyone falling onto debt
2/ Ask people to switch from overdrafts to personal loans
3/ increasing some peoples overdraft amounts

None of these things says they are serious about cracking down on people in debt....!!

Tuesday, September 12, 2006 06:07PM Report Comment
 

3. indiablue19 said...

Well Lads,

This is all looking quite irrational. And word was that HSBC had thought ahead, spread the risk through judicious international investment. Today the children and I have started taking French classes. Having lived in Spain with what I thought to be fairly good spoken skills and gone momentarily dumb when my husband was being admitted for emergency surgery and I was to translate the "risks" disclaimer for him, I now know you must be very much more prepared and ready for any foreign language crisis. Prepared I shall be -- since life here grows ever more worrisome. As Inbreda says, time for different investment strategies when what seemed substantial [just last week, Uncle Tom has estimated this lot to be the most reliable] grows ever more shallow in apparent depth.

Tuesday, September 12, 2006 09:11PM Report Comment
 

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