Posted by David Kral on 2/8/07 7:51am
Msg #174645
Okay... Who stamped these?
HSBC -- Europe's biggest bank -- said it was about to be hit with $1.76 billion in bad debt charges as the slowing U.S. housing market leaves customers unable to keep up with risky mortgages. The problem stems from a portfolio of subprime mortgages(can you say....AMC) that HSBC picked up in 2005 and 2006 while real estate was still hot in the U.S.
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