Quote:
Originally Posted by saverbootay
HSBC lowered to 3.25%. Maybe they know the Fed is going to lower today?
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Or because of all their own massive sub-prime losses they can no longer afford to be competitive because they are being forced to mark-to-market their RE related securities (MBS, CDO etc.) holdings and not mark-to-fantasy after Lehman pulled back the curtain on valuation of this toxic waste in their bankruptcy filing.