Check it out guys, at this stage its a rumor and has been causing problems in the financials index:
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IF this rumor was true, which bank?
I'd guess Lehman or Bear Stearns, maybe even HSBC because of the subprime fallout (they bought the riskiest CDOs from HFs). That would cause financial catastrophe.
ohhh shizzle! :P
Jesus Christ...
HSBC ?? I highly doubt it's them, It has to be Bear.
Agree, Bear.
oh please please please please let it be Deutsche Bank!
I don´t think is HSBC... I hope not at least.
If it's HSBC we're all dead
Good point, mrcanuck.
Its probably just a rumor, but if I had to put my money on one, it would def. be bear. I cant believe how badly theyve been doing!
If it is anyone please be Bear for the love of all that is pure and just.
Most Logical choice is Bear. I wouldn't guess HSBC, far too diversified.
Hmmm, the speculation is an interesting distraction for the day. Let's consult the crystal ball... or better yet let's dial 1-900-Psychics. Surely they know something we don't know.
Hey, even better, I don't know why I didn't think of it earlier... I'll consult the trusty Magic Eight Ball in my drawer for an affirmation...
LOL
I think the big dogs at Soloman used to consult an 8 ball whenever they wanted to figure something out.
Big dogs at Solomon? LOL. Name one.
You must be over 30, 'cuz no one mentions Solomon on this forum :-)
Most kids were still in HS or at best graduating HS when Solomon was acquired by Citigroup in '98.
Yeah I'm seriously hoping it's Bear. Even if Lehman went under it would be a catastrophe. The reason why I said HSBC is that these guys are holding on to the lowest tranches of subprime debt. They believed that their fund managers were better than anyone else and that's why they were holding on to this stuff on their balance sheet. All the other banks (citi, barclays, etc.) had sold it to the buyside. BNP money market funds stopped redemptions, and they were holding AAA-rated subprime. Imagine the valuations on the lower tranches. What's even more scary is that HSBC is holding these on their balance sheet so there is a possibility of the bank failing, and not just investors losing money. If HSBC failed, it would bring down thousands of other commercial banks around the world including Citigroup, which in turn would bring down most of Wall Street and...
OK you know what, this is too depressing, it better be Bear!
That's it, I'm shorting HSBC
Did anyone actually read the article...it said: "US Investment Bank" - the Hong Kong Shanghai Banking Coproration hardly qualifies as such
my mistake
Its not HSBC.
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