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Old 06-30-2007, 03:40 AM   #1
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Big bank warns of trouble ahead

Friday 29th June, 2007

Big bank warns of trouble ahead
--------------------------------------------------------------------------------

BigNewsNetwork.com Friday 29th June, 2007

HSBC has warned the glut in global money credit combined with excessive leverage could send people to the wall if a big transaction finally goes wrong.

HSBC banking executives are uneasy after five years of low interest rates and the growing amounts of leverage in the financial system.

HSBC's first profit warning came earlier this year when the sub-prime mortgage market folded.

Last week Wall Street bank Bear Stearns was forced to bail out one of its hedge funds because of its heavy exposure to sub-prime mortgage investments.

Because risk is now so widely spread throughout the financial system, HSBC says large institutions could also fail.


http://feeds.bignewsnetwork.com/?sid=260595
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Old 06-30-2007, 03:40 AM   #2
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Join Date: May 2005
Location: Birmingham, Al
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Big bank warns of trouble ahead

Friday 29th June, 2007

Big bank warns of trouble ahead
--------------------------------------------------------------------------------

BigNewsNetwork.com Friday 29th June, 2007

HSBC has warned the glut in global money credit combined with excessive leverage could send people to the wall if a big transaction finally goes wrong.

HSBC banking executives are uneasy after five years of low interest rates and the growing amounts of leverage in the financial system.

HSBC's first profit warning came earlier this year when the sub-prime mortgage market folded.

Last week Wall Street bank Bear Stearns was forced to bail out one of its hedge funds because of its heavy exposure to sub-prime mortgage investments.

Because risk is now so widely spread throughout the financial system, HSBC says large institutions could also fail.


http://feeds.bignewsnetwork.com/?sid=260595
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Old 07-05-2007, 01:16 PM   #3
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That was really sad! So many people getting mortgages that clearly couldn't afford them.
My husband and I have always lived on one salary and banked the other. Thanks goodness we did it sure helped when I was laid off a couple of times.
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Old 07-26-2007, 07:49 PM   #4
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Could the stock market close today be another indicator?
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