Saturday, Sep 22, 2007
The bank's first profit warning in its 142-year history
Telegraph: HSBC Hit by Sub-Prime crisis
The shock-and-awe of the ponzai scheme continues to spread its unrelenting toxicity.
Last night, HSBC chief executive Mike Geoghegan said about the Decision One closure: "This is a small part of our US business. It's no longer sustainable and not the right place to allocate capital in the future."
Posted by auntie @ 09:48 AM (211 views) Add Comment
1 Comment
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1. Doggadogdog said...
Greed, greed and some more greed, yep hope all these poor poor banks get a right good kicking. They grasping ways deserves no pity. Any one rememeber a few years back when they started charging to use rival cash points, now they trumpet the fact that there free. Kick em while there down put the boot in.