I have an idea, if HSBC Chairman, Stephen Green, doesn´t want his bank to be on the list of big losers when the music of easy credit stops, he should learn to say NO.
What does he want, a regulator to step in and tell him what to do?
When the bubble gets too much, which is what he is suggesting, those left holding the bad loans are usually the state run banks.
With the quality of its management, I would not expect HSBC to be on that list.
When the time comes, look out for the announcements from the Landesbanks and the cooperatives.
Onésimo Alvarez-Moro
See article:
The glut of credit in global financial markets, combined with excessive leverage, could all “end in tears” when a big transaction finally goes wrong, Stephen Green, chairman of HSBC, warned on Wednesday.
In an interview with the Financial Times, Mr Green admitted that he was “worried by the degree of leverage in some big ticket transactions nowadays” and felt that “something is going to end in tears”.
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