It’s not precisely economics, but the news of the day is pretty interesting: a Facebook group takes on HSBC
So apparently HSBC offered graduate students in the UK interest-free lines of credit … then changed their policy, after the students used the loc’s. Whamo – a bunch of grad students are feeling the pain. Students + feeling ripped off + Facebook = pr nightmare for HSBC.
3600 students have joined the anti-HSBC group and it’s growing by the hour.
An live protest event is being organized via facebook on Sept. 8th.
This is the first clear story I’ve heard about social networking via FaceBook resulting in challenging a company.