Job cuts hit hard in lending and mortgage industry

HSBC said it will also sell, shut or slim down retail operations in 39 markets, where operations are sub-scale and unprofitable and is looking to sell its U.S. credit card arm and shrink its network of 475 U.S. branches. HSBC’s move would be the latest in a wave of cuts announced by the global financial …

Bernie Madoff with pants down, Bankers too

When it comes to the Madoff bankruptcy case, the venue matters. Bernie was scamming everyone until the financial crisis exposed him, and the next thing we knew he was telling his sons about his ponzi scheme. Lawsuits filed by Irving H. Picard, the trustee in the case, expose the banks and financial wanna-be’s that never …

UniCredit, HSBC Seek to Dismiss Madoff Investor Suit

UniCredit Bank Austria AG and other defendants asked a judge to dismiss a lawsuit by foreign investors in funds that put money with con man Bernard Madoff, saying they were being cast as “scapegoats for Madoff’s intentional criminal acts.” The investors in January and February sued Herald, Primeo and Thema funds, directors, service providers and …