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Re: Bernie Madoff Scams HSBC for $1 Billion
Posted: 17th Dec, '08, 15:15
by T2K
Since when are jews a race anyway? Are moslems and christians a race too? How about buddhists? Hindus?
This little hissy fit is stupid on many levels.
Re: Bernie Madoff Scams HSBC for $1 Billion
Posted: 17th Dec, '08, 15:41
by azzam
Yay!! I can fight with you again.
Re: Bernie Madoff Scams HSBC for $1 Billion
Posted: 17th Dec, '08, 15:56
by baloo
Here's an early list of those who are thought to have lost out in Bernard Madoff's alleged $50bn scam.
Fairfield Greenwich Group - $7.5bn (company statement)
Kingate Management - $3.5bn (Bloomberg)
Banco Santander - $3.1bn direct and indirect exposure (company statement)
Tremont Group - $3.3bn (Bloomberg)
Bank Medici - $2.2bn (company statement)
Ascot Partners LLC - $1.8bn (The Wall Street Journal)
Access International Advisors - $1.4bn (company statement)
Fortis - $1.4bn (company statement)
HSBC - $1bn (Financial Times)
Benbassat & Cie - $935m (Le Temps)
Union Bancaire Privee - $850m (Le Temps)
Royal Bank of Scotland - $594m (company statement)
Natixis - $533m in indirect exposure (company statement)
BNP Paribas - $468m (company statement)
BBVA - $404m (Reuters)
Fix Asset Management - $400m (company statement)
Man Group - $360m (company statement)
Reichmuth & Co - $330m (firm letter to clients)
Nomura Holdings - $302m (company statement)
Maxam Capital Management - $280m (The Wall Street Journal)
EIM Group - $230m (Le Temps)
UniCredit - $100m (company statement)
Societe Generale and UBS have both come out and confirmed insignificant exposure.
Re: Bernie Madoff Scams HSBC for $1 Billion
Posted: 17th Dec, '08, 18:33
by Kooky
Santander's got my dosh.
Re: Bernie Madoff Scams HSBC for $1 Billion
Posted: 17th Dec, '08, 19:01
by Lichtgestalt
To quote Emilio Botin:
One, if you don’t fully understand a product, don’t buy it.
Two, if you wouldn’t buy a product for yourself, don’t sell it.
And three, if you don’t know your customers very well, don’t lend them any money.
Re: Bernie Madoff Scams HSBC for $1 Billion
Posted: 17th Dec, '08, 21:35
by BoD
Excellent. I have far more of HSBC's money than they do of mine.. Hope they go bust and forget about my home loans (and of course I hope all the employees get handsomely paid off)
Re: Bernie Madoff Scams HSBC for $1 Billion
Posted: 18th Dec, '08, 06:39
by Joseph27
Just an odd thought but I can imagine that many retirees in Florida would have been happily parking their money with Bernie because of his religious origins -oh that and the 13% returns year after year....... there are a lot of broke people in Florida now wondering how to live a lavish lifestyle of social security payments....