HSBC bailout puts heat on Citibank

HSBC bailout puts heat on Citibank

There are 39 comments on the South Florida Sun-Sentinel story from Nov 26, 2007, titled HSBC bailout puts heat on Citibank. In it, South Florida Sun-Sentinel reports that:

Calls for more transparency at Citigroup Inc. grew louder Monday when HSBC Holdings PLC said it would put two funds with mortgage exposure on its balance sheet and spend $35 billion to bail them out.

Join the discussion below, or Read more at South Florida Sun-Sentinel.

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Truth

Pompano Beach, FL

#1 Nov 27, 2007
A 35 BILLION DOLLAR bailout by HSBC. But try being late on a $25 credit card payment, ann they will hound you daily!! Now I know why??
No Lie

United States

#2 Dec 13, 2008
Let HSBC fail. They are rude to their customers and try to tack on extra charges. They are scam artists. Don't make a payment to early..they will not except it as a payment for that month. You can only make a payment when they say you can. They will not fix faulty charges.
I agree

La Grange, NC

#3 Dec 13, 2008
Rude customer service from oversees employees. If hiring American citizens in need of jobs is not good enough for this comapany then how can they recieve any kind of bailout. They put themselves in this position and do not handle customer concerns adequately.
today is a gift

Temperance, MI

#4 Dec 13, 2008
No Lie wrote:
Let HSBC fail. They are rude to their customers and try to tack on extra charges. They are scam artists. Don't make a payment to early..they will not except it as a payment for that month. You can only make a payment when they say you can. They will not fix faulty charges.
if your talking about credit cards....that's how all credit cards work. open ended credit cards work much differntly then closed ended loans.

if i am wrong about my assumption, then i apologize.
agree

New York, NY

#5 Jan 27, 2009
i hope their customer service managers get laid off.
no good

New York, NY

#6 Jan 27, 2009
my experience with HSBC has not been favorable at all. i work right above them in the financial district in NYC and would love to pull a Banksy on their windows.
buyerbeware

Richmond Hill, NY

#7 Jan 27, 2009
gougers in every sense of the word. Will take the fillings out of your teeth and tell you the holes look good. one of the worst banks
disagree

Tulsa, OK

#8 Apr 4, 2009
HSBC does hire in the US, there are several large offices in different cities. As far as payments go on credit cards, Did you read the terms and conditions before you signed the dotted line. Most people know how credit cards work, if you don't then I suggest you don't get one. You are taking a loan when you use it so you have to make the payments. if you didn't pay your car paymemt, the loan company would come and take you car!!!!!!
DMcD

United States

#9 Apr 5, 2009
disagree wrote:
HSBC does hire in the US, there are several large offices in different cities. As far as payments go on credit cards, Did you read the terms and conditions before you signed the dotted line. Most people know how credit cards work, if you don't then I suggest you don't get one. You are taking a loan when you use it so you have to make the payments. if you didn't pay your car paymemt, the loan company would come and take you car!!!!!!
Careful now , your pettycoat is showing , Mr. Banker. Rubbing you the wrong way are we !?! Now for a word of warning to you; 'we've had it' and we're not taking this crap from your kind anymore and if you don't like it , thats too damn bad --- now climb back under your rock before we run over you.
disagree

Tulsa, OK

#10 Apr 6, 2009
apparently I have ruffled your feathers. I work for HSBS US office in collections, you must be one on the card members that we call, that don't make your payment. If you are going to upset with someone, be upset with yourself, you agreed to the fees when you siged your name to the dotted line.
Live Life Kingsize

United States

#11 Apr 7, 2009
Why should they get bailout money when they pay their employees overtime instead of hiring people. I know somebody who works with HSBA USA and he works 60 hours every week and makes tons of money in overtime. There are so many people with no jobs and if his department needs people they should hire more people instead of paying overtime. THIS SHOULD STOP.
Live Life Kingsize

United States

#12 Apr 7, 2009
I think his manager and him should be FIRED. I even know which department he works. Look at this guy's financial situation and look at millions of Americans who have no JOBS. GET THESE GUYS FIRED.
Artrain

Houston, TX

#13 Apr 24, 2009
I missed my $16 payment. They froze my entire $975 line of credit for it. I made the payment for the missed month and early for the next month, on their site. They will not unfreeze the account for 10 days.
Gary

Virginia Beach, VA

#14 Jun 26, 2009
I agree wrote:
Rude customer service from oversees employees. If hiring American citizens in need of jobs is not good enough for this comapany then how can they recieve any kind of bailout. They put themselves in this position and do not handle customer concerns adequately.
The author of above comment should read the story again, HSNC are not receiving funds they are bailig out someone else!!!

“Carroll Global Group Corp.”

Since: Mar 09

London UK / Washington DC USA

#15 Jun 27, 2009
HSBC and the city of london law firm Goodman Derrick are the subject of major criminal allegations of conspiracy to defraud money laundering and tax evasion in Britains biggest ongoing organised criminal conspiracy corruption case. The Carroll Foundation Trust one billion dollars cross-border international crime case.
HSBC sucker

United States

#17 Sep 25, 2009
The banks started this mess by giving loans to people knowing they were not qualified. This ethics violation has made the real estate market impossible for a normal person to enter. This is how I made my living, working with real estate agents remodeling homes. Mostly flooring. Now I have no job because there is no money to remodel. I have a can loan from HSBC. Guess what, I had to file bankruptsy. Now we are going over my statements that were totaly inflated with late fee's and not listed on the statement. In other words when I was late on a payment they would pressure me to give em some money, and when I did they would send me a statement a couple of weeks later that would not reflect on my balance what i paid. i owe 3k and they want to take my car. i bought the car for 14,000. I have paid 24,000. now i need a bailout. I HATE STUPID BANKS COMPLETELY. BOYCOTT HSBC WORLDWIDE.
laterhhsbc

United States

#18 Oct 2, 2009
Got the letter today going to raise my rate to 22% and this is on someone who has never been late with a payment and has been with them since 97. Oh wait, I have over$2000 in GM points that I will lose if I don't agree to the changes. GM and HSBC to Hell with both of you
CFNA

Anderson, SC

#19 Oct 2, 2009
I got a letter today from my Discover Platinum card. They told me in light of soon to be in place government regulations they will:

-No longer charge over limit fees.
-No longer raise APRs on current balances, only future purchases if I default on a payment.
-Accept mail in payments up until 5pm instead of the old 1pm cutoff.
-Apply any payment to the balance with the highest APR first.
-Will recalculate my minimum monthly payment (which may increase) so that I can pay off my debt sooner.

There was more but that was the gist of it. I about fell off the couch. This is how it should have been done in the first place :/

Since: Oct 09

Ripley, TN

#20 Oct 2, 2009
gdf
Pat

AOL

#21 Oct 24, 2009
Just be grateful it is not a second morgage. We applied for a second mortgage and before we signed any papers HSBC bought it. We are retired and they gave us a variable rate and most likely we will lose our hme because of them. We tried to get them to refinance on a fixed rate but we are too old. We have paid on it for over 5 years and we owe more than we did to start with but they received my money to bail them out. I hope they fail!

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