MrP Posted September 3, 2010 Share Posted September 3, 2010 BBC HSBC threaten to quit London if they risk being split up to avoid the 'too big to fail' problem happening again. HSBC benefited from the bail out, now they blackmail us! Quote Link to comment Share on other sites More sharing options...
SarahBell Posted September 3, 2010 Share Posted September 3, 2010 HSBC benefited from the bail out, now they blackmail us! How did HSBC benefit? Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted September 3, 2010 Share Posted September 3, 2010 Bye bye then. Quote Link to comment Share on other sites More sharing options...
THE BALD MAN Posted September 3, 2010 Share Posted September 3, 2010 How did HSBC benefit? Without the bails outs the whole banking system would have collapsed including hsbc Quote Link to comment Share on other sites More sharing options...
Johnny Storm Posted September 3, 2010 Share Posted September 3, 2010 I really hope they go. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted September 3, 2010 Share Posted September 3, 2010 Without the bails outs the whole banking system would have collapsed including hsbc Nah. I don't swallow that. The good bits would have been gobbled up by the healthy banks - the govt would have had to bail out savers. And the debt book could have been chopped up too. I do not believe the uk government interfering as it did has helped the uk. Quote Link to comment Share on other sites More sharing options...
lets get it right Posted September 3, 2010 Share Posted September 3, 2010 I'm under the impression that HSBC have taken advantage of the government scheme to guarantee the value of assets parked in it. Quote Link to comment Share on other sites More sharing options...
Traktion Posted September 3, 2010 Share Posted September 3, 2010 A threat? Ohhh... I'm quaking in my boots! I say let them go elsewhere and if we have a void of banking service here, the other banks can grow to fill it. Better still, some new banks can start up. Quote Link to comment Share on other sites More sharing options...
easy2012 Posted September 3, 2010 Share Posted September 3, 2010 (edited) Without the bails outs the whole banking system would have collapsed including hsbc Don't think so. Without the bail out, HSBC will be the only bank left in town.. @ Let's get it right HSBC did not participate in the Asset protection scheme, but it does benefit from the government credit guarantee on anything that it borrows. Edited September 3, 2010 by easybetman Quote Link to comment Share on other sites More sharing options...
Flat Bear Posted September 3, 2010 Share Posted September 3, 2010 Nah. I don't swallow that. The good bits would have been gobbled up by the healthy banks - the govt would have had to bail out savers. And the debt book could have been chopped up too. I do not believe the uk government interfering as it did has helped the uk. Agreed Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted September 3, 2010 Share Posted September 3, 2010 Without the bails outs the whole banking system would have collapsed including hsbc Good. It was/is insolvent. Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted September 3, 2010 Share Posted September 3, 2010 BBC HSBC threaten to quit London if they risk being split up to avoid the 'too big to fail' problem happening again. Please shut the door on your way out... Quote Link to comment Share on other sites More sharing options...
Traktion Posted September 3, 2010 Share Posted September 3, 2010 I'm under the impression that HSBC have taken advantage of the government scheme to guarantee the value of assets parked in it. They certainly benefited from panic not gripping the entire banking sector. Had there been no bailouts, they would have been at risk of problems too, as the bank runs rolled in on them in time. I suppose they had an implicit bailout, by virtue of the other banks being propped up. Then again... they could have benefited by being the strongest standing, sucking in deposits from other banks in this situation. A 'good' bank to the failing 'bad' banks as it were. Quote Link to comment Share on other sites More sharing options...
MinceBalls Posted September 3, 2010 Share Posted September 3, 2010 They certainly benefited from panic not gripping the entire banking sector. Had there been no bailouts, they would have been at risk of problems too, as the bank runs rolled in on them in time. I suppose they had an implicit bailout, by virtue of the other banks being propped up. Then again... they could have benefited by being the strongest standing, sucking in deposits from other banks in this situation. A 'good' bank to the failing 'bad' banks as it were. The government by their very action protected every one of these financial institutions from meltdown, Armageddon in fact. There would have been no HSBC had they not done so. And now they say they didn’t need any direct help so the sun shines out of their bums. Short sighted, lying tossers. F8ck them: let them go leech of some other countries tax payers. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted September 3, 2010 Share Posted September 3, 2010 Where will they go? The chinese seem to want to run a pretty tight ship. Obama is likely to want to push through similar reforms to us Only Europe and the US still believe banks somehow add value to an economy by extorting it. Quote Link to comment Share on other sites More sharing options...
erranta Posted September 3, 2010 Share Posted September 3, 2010 Don't HSBC have massive exposure, having bought zombie bank chains, to build a presence in the USA? Quote Link to comment Share on other sites More sharing options...
MrP Posted September 3, 2010 Author Share Posted September 3, 2010 How did HSBC benefit? HSBC signed up to the government’s rescue scheme, benefited from state guarantees and all the injections of liquidity intended to free up the credit markets. Quote Link to comment Share on other sites More sharing options...
MrP Posted September 3, 2010 Author Share Posted September 3, 2010 HSBC signed up to the government’s rescue scheme, benefited from state guarantees and all the injections of liquidity intended to free up the credit markets. Forgot to mention they also received $3.5 Billion via AIG's bailout. Quote Link to comment Share on other sites More sharing options...
PrivateerMk2 Posted September 3, 2010 Share Posted September 3, 2010 (edited) Ooh, so job losses likely in Mordor London, then? My, this is a day for good news. Edited September 3, 2010 by PrivateerMk2 Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted September 3, 2010 Share Posted September 3, 2010 Ooh, so job losses likely in Mordor London, then? My, this is a day for good news. Yeah - only happens to be the location of one of GB's major export industries. It's a double edged sword to wish it ill. Quote Link to comment Share on other sites More sharing options...
Nationalist Posted September 3, 2010 Share Posted September 3, 2010 HSBC could argue they suffered from the government's banking bail outs. They were well capitalised, prepared ahead of time, sold their HQ building and rented it back about 3 months before the start of the credit crunch in 2007, so they would have mopped up all the customers from failed banks, if any banks had actually been allowed to fail. By rights HSBC should be spitting tacks! The government has done them no favours. Quote Link to comment Share on other sites More sharing options...
R K Posted September 3, 2010 Share Posted September 3, 2010 See ya. Good luck with the Chinese bailout when China blows up. Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted September 3, 2010 Share Posted September 3, 2010 HSBC could argue they suffered from the government's banking bail outs. They were well capitalised, prepared ahead of time, sold their HQ building and rented it back about 3 months before the start of the credit crunch in 2007, so they would have mopped up all the customers from failed banks, if any banks had actually been allowed to fail. By rights HSBC should be spitting tacks! The government has done them no favours. I remember reading reports at the time that they weren't happy, and threatened all sorts unless the bail-out terms were severe on the bad banks. Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted September 3, 2010 Share Posted September 3, 2010 HSBC is a global company - earnings from far and wide. Let's not put it in the same basket as other UK tiddly winks. Quote Link to comment Share on other sites More sharing options...
dryrot Posted September 3, 2010 Share Posted September 3, 2010 (edited) Please shut the door on your way out... Beat me to it That is, I don't have a portfolio of overleveraged BTLs in Docklands; I don't deal cocaine; and I'm not the proprietor of a lapdancing bar. So fewer bankers in London won't effect me. in fact, it will be a plus for ordinary Londoners. Edited September 3, 2010 by dryrot Quote Link to comment Share on other sites More sharing options...
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