Morgan Stanley
May 16, 2008
HSBC in new sub-prime writedown
“I am encouraged by the way we have increased pre-tax profits in every one of the major countries in which we operate in Asia-Pacific, the Middle East and Latin America”
Europe's biggest bank HSBC has written off $3.2bn in the first three months of 2008 as a result of its exposure to the US sub-prime market. via BBC
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