Relevant:
- HSBC rebel investor says US unit may need Chapter 11
- Investor puts pressure on HSBC to let US sub-prime unit go bankrupt
- HSBC Faces Round Two of Subprime Punishment
- HSBC says first-quarter - US$3.2 billion subprime write-down
- William K. Black: Why Did Obama and Cameron Save a Criminal Enterprise Like HSBC?
2008-05-13 — nakedcapitalism.com
"The Times of London reports that activist investor Knight Vinke accused HSBC of failing to mark down its subprime assets (due to its ill-fated 2003 acquisition of Household Financial) adequately, leading to its greatly understating its first quarter losses. Vinke isn't alone in being skeptical of HSBC's latest earnings release. "
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