Monday, September 15, 2008

Hedge Funds Target HBOS as Shares Crash 30%

Hedge Funds Target Halifax, HBOS as Shares Crash 30%

Following on from the collapse of Lehman Brothers during the weekend, the financial sector was expected to be hit hard and to drag the overall market lower by some 5%. Whilst most of the big UK banks experienced falls in the order of 15%, Britain's biggest mortgage bank, Halifax Bank of Scotland (HBOS) crashed by over 30% as clearly hedge funds targeted the bank as a candidate for financial collapse, along the lines of Northern Rocks bank bust in Sept 07.

Posted by nadeem walayat @ 06:20 PM (331 views)
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