Friday, February 09, 2007
The challenge is to identify the future that has already happened
What made HSBC management set aside nearly $11 billion for bad mortgage? The amount is nealry 70% of the amount that HSBC used to takeover Household. The US housing index crashed last year. The situation is bad. But, what HSBC set aside is still illogical unless there are further story we don't know.
