TheStreet.com TV Recap: British Bank Invasion

Call it the second British invasion -- only this time, banks are being targeted.

British bank HSBC (HBC Quote) is cutting into business at JP Morgan (JPM Quote), Bank of America (BAC Quote) and other U.S. banks while igniting worries about the mortgage market, said guest host Gregg Greenberg on the TheStreet.com TV's Wall St. Confidential video Thursday.

HSBC and ING (ING Quote) both made the decision to get in this country big and they did it, Jim Cramer said, and it's interesting to compare their approaches.

While ING has "the best, most sophisticated online" approach, HSBC "is trying to buy your business by being the lender of last resort, and that's a bad game," he told Greenberg. ...