HSBC Joins Citigroup in SIV Deadpool
What does he know? Oracle CEO Larry Ellison liquidated 1 Million shares last Wen at $20 per share.
Black Friday... ShopperTrak indicates an 8.3% gain in retail sales on Black Friday, but shoppers spent 3.5% less per person.
Leaking like a SIV... HSBC, Europe's largest bank, will bail out its two structured investment vehicles by taking on $45 billion of their assets to avoid a fire sale.
Investors in Cullinan Finance and Asscher Finance will be allowed to exchange their holdings in the SIVs for debt issued by a new company backed by loans from HSBC.
HSBC may have to set aside another $12 billion for loan defaults at its US lender Household.
HSBC's SIVs have more than $34 billion of senior debt, 2nd only to Citigroup which already provided $7.6 billion to keep its SIVs afloat.
SIV Fallout... CNBC reporting that SIV leader Citigroup is ready to announce 45,000 layoffs.
Black Friday... ShopperTrak indicates an 8.3% gain in retail sales on Black Friday, but shoppers spent 3.5% less per person.
Leaking like a SIV... HSBC, Europe's largest bank, will bail out its two structured investment vehicles by taking on $45 billion of their assets to avoid a fire sale.
Investors in Cullinan Finance and Asscher Finance will be allowed to exchange their holdings in the SIVs for debt issued by a new company backed by loans from HSBC.
HSBC may have to set aside another $12 billion for loan defaults at its US lender Household.
HSBC's SIVs have more than $34 billion of senior debt, 2nd only to Citigroup which already provided $7.6 billion to keep its SIVs afloat.
SIV Fallout... CNBC reporting that SIV leader Citigroup is ready to announce 45,000 layoffs.
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