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BOOM: HSBC

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    BOOM: HSBC

    Didn't an investment 'expert' on here predict the collapse of HSBC last year?

    https://www.bbc.co.uk/news/business-56897458
    I am what I drink, and I'm a bitter man

    #2
    I keep meaning to close my HSBC accounts (personal and biz) because of their arse kissing of the Chinese government.

    Comment


      #3
      Originally posted by ladymuck View Post
      I keep meaning to close my HSBC accounts (personal and biz) because of their arse kissing of the Chinese government.
      I closed my accounts a few years ago when they started to charge more for their business accounts. Switched to Natwest. From a personal banking side Natwest have blown HSBC away (and this despite I still had a staff HSBC account from when I worked there in the 90's and was treated better than the ordinary folks).
      I am what I drink, and I'm a bitter man

      Comment


        #4
        I moved most of our non-business assets into HSBC in 2009 as they were the least fooked of the retail banks at the time. Business still in NatWest as they have the best services and will always get bailed out by the government.

        (I was working in counterparty credit risk at the time)

        Comment


          #5
          Originally posted by TwoWolves View Post
          I moved most of our non-business assets into HSBC in 2009 as they were the least fooked of the retail banks at the time. Business still in NatWest as they have the best services and will always get bailed out by the government.

          (I was working in counterparty credit risk at the time)
          With the banks I don't have over £75k in any one of them. Excess goes to my NS&I account as it's fully backed by government. I do have a large number in Vanguard ISA which, if they went pop, I'd be buggered, but not much you can really do with that is there unless you have multiple ISA providers.

          Quite a bit in my Standard Life pension too ... again, if they go pop I'd only get the government backed money back, but again not a great deal of choice unless you spread the pension across lots of different providers.
          I am what I drink, and I'm a bitter man

          Comment


            #6
            Originally posted by Whorty View Post

            I closed my accounts a few years ago when they started to charge more for their business accounts. Switched to Natwest. From a personal banking side Natwest have blown HSBC away (and this despite I still had a staff HSBC account from when I worked there in the 90's and was treated better than the ordinary folks).
            The business fee is negligable, at £6.50 a month. I have a legacy account so pay £11.95 for my personal banking and that includes car breakdown cover and travel insurance (both of which I've claimed on with no issues). I just want to move as a point of principle as everything functions exactly as I need it to.

            Comment


              #7
              Originally posted by ladymuck View Post
              I keep meaning to close my HSBC accounts (personal and biz) because of their arse kissing of the Chinese government.
              Does that also extend to refusing to buy Chinese tat?

              Comment


                #8
                Originally posted by DonaldJTrump View Post

                Does that also extend to refusing to buy Chinese tat?
                As best as I can, I do try. That is quite difficult though as it's often not until something arrives that you realise it's got 'Made in China' on it.

                Comment


                  #9
                  Originally posted by ladymuck View Post
                  I keep meaning to close my HSBC accounts (personal and biz) because of their arse kissing of the Chinese government.
                  It’s their legal obligation - most of Western companies who do the same only do it for the money

                  Comment


                    #10
                    HSBC market cap more than NatWest Group, Barclays and Lloyds bank combined.

                    But JP Morgan is worth almost 4 times HSBC

                    Credit Suisse and Douche Bank are worth even less than the struggling UK banks.

                    Even Doggy coin was worth more than Credit Suisse and DB combined last week..

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