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HSBC interesting timing.

blaineage

By blaineage,
in Iraq & Dinar Related News

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blaineage Newbie

blaineage

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DJ HSBC Global Asset Management Launches Frontier Fund

9:51 AM (GMT-05:00) Eastern Time (US & Canada) Nov 30, 2011

HSBC Global Asset Management has launched a new fund that will focus on frontier markets that are viewed as the next generation of emerging markets. The fund, which is still accepting participants, will also assume the assets of the existing $170 million HSBC New Frontiers Fund launched in February 2008. The new fund will take a long-term view and focus on equities issued in countries such as Qatar, Pakistan, Nigeria, Romania, Vietnam and Argentina. Some investors say these countries offer higher returns in the long run, though the risks also are higher. Andrea Nannini will manage the new HSBC fund, which will be benchmarked to the MSCI Frontiers Markets Capped Index. -By Prabha Natarajan, Dow Jones Newswires; 212-416-2468; prabha.natarajan@dowjones.com (END) Dow Jones Newswires November 30, 2011 09:51 ET (14:51 GMT) Copyright © 2011 Dow Jones & Company, Inc.

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blaineage Newbie

blaineage

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sorry, I am missing it maybe. why is this interesting timing? just launching another fund.

Perhaps nothing, but if HSBC smells something cooking, they start these incubator funds to hopefully get an initial pop or run up. Once they have a verifiable track record, they market to the general public, and skim them with fees. I am not a fan of HSBC, but I do not doubt HSBC has ears to the ground. They omitted (obviously) IRAQ in the press release but certianly they would be included. This used to happen alot with Tech mutual funds in the late 1990's when the bubble was happening in the NASDAQ,

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Mongo Newbie

Mongo

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HSBC Made a big Boo-Boo in the Sub-Prime market......they threw away all original promissory notes, so now ownership can't be proven by HSBC in Judicial States, which means they can't foreclose, the judge will throw it out and in some cases award ownership to the family. when ask by the judge, why did you throw the original promissory notes away? Lawyers for HSBC said " Do you know how much it would cost to warehouse all that paperwork from all the mortgages that we underwrite? Hundreds of thousands of dollars"????

blink.gif The judge had no answer and looked at the HSBC lawyers, dumbfounded(It's going to cost you alot more than that, Stupidity at it's finest)ohmy.gif

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TrinityeXchange Newbie

TrinityeXchange

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......they threw away all original promissory notes, so now ownership can't be proven by HSBC in Judicial States, which means they can't foreclose, the judge will throw it out and in some cases award ownership to the family. when ask by the judge, why did you throw the original promissory notes away? Lawyers for HSBC said " Do you know how much it would cost to warehouse all that paperwork from all the mortgages that we underwrite? Hundreds of thousands of dollars"????

blink.gif The judge had no answer and looked at the HSBC lawyers, dumbfounded(It's going to cost you alot more than that, Stupidity at it's finest)ohmy.gif

those bunch of liars. they didn't "throw it away". LOL! they bundled them and sold them as securities. it is the promissory note that gets monetized whereby all new money is created. these yahoos duplicated the securities multiple times and sold these worthless/backless securites to international investors. the international investors found out that they were duped and wanted their money back. the fed had one of two options: 1) let the banks go bankrupt paying back money on fraudulently copied securites or 2) make the tax payer recover the system from the fraud.

we all know how that ended and who paid the bill...

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Abarvets Newbie

Abarvets

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those bunch of liars. they didn't "throw it away". LOL! they bundled them and sold them as securities. it is the promissory note that gets monetized whereby all new money is created. these yahoos duplicated the securities multiple times and sold these worthless/backless securites to international investors. the international investors found out that they were duped and wanted their money back. the fed had one of two options: 1) let the banks go bankrupt paying back money on fraudulently copied securites or 2) make the tax payer recover the system from the fraud.

we all know how that ended and who paid the bill...

Trinity you nailed it on the head there! They unfortunately were not the only ones who did it................ :(

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Maggie123 Newbie

Maggie123

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those bunch of liars. they didn't "throw it away". LOL! they bundled them and sold them as securities. it is the promissory note that gets monetized whereby all new money is created. these yahoos duplicated the securities multiple times and sold these worthless/backless securites to international investors. the international investors found out that they were duped and wanted their money back. the fed had one of two options: 1) let the banks go bankrupt paying back money on fraudulently copied securites or 2) make the tax payer recover the system from the fraud.

we all know how that ended and who paid the bill...

YOU GOT THAT RIGHT !!! tip_hat.gif

...and we will most likely be paying more in the near future. angry.gif

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Carrello Rising Star

Carrello

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HSBC Made a big Boo-Boo in the Sub-Prime market......they threw away all original promissory notes, so now ownership can't be proven by HSBC in Judicial States, which means they can't foreclose, the judge will throw it out and in some cases award ownership to the family. when ask by the judge, why did you throw the original promissory notes away? Lawyers for HSBC said " Do you know how much it would cost to warehouse all that paperwork from all the mortgages that we underwrite? Hundreds of thousands of dollars"????

blink.gif The judge had no answer and looked at the HSBC lawyers, dumbfounded(It's going to cost you alot more than that, Stupidity at it's finest)ohmy.gif

Thank you. I can't tell you how wonderful your story makes me feel. If I could hear the same story for Bank of America and Wells Fargo, I would laugh until I could not laugh anymore.

those bunch of liars. they didn't "throw it away". LOL! they bundled them and sold them as securities. it is the promissory note that gets monetized whereby all new money is created. these yahoos duplicated the securities multiple times and sold these worthless/backless securites to international investors. the international investors found out that they were duped and wanted their money back. the fed had one of two options: 1) let the banks go bankrupt paying back money on fraudulently copied securites or 2) make the tax payer recover the system from the fraud.

we all know how that ended and who paid the bill...

When the banks are making money, it's capitalism.

When the banks need to get bailed out, it's socialism.

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