In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Sunday, May 11, 2008

Report: HSBC to report $4.6 Billion in Write-Downs

by Calculated Risk on 5/11/2008 10:13:00 AM

From the Observer: HSBC to reveal $5bn of fresh write-offs

HSBC is expected to announce tomorrow that it is writing off a further $4.6bn (£2.3bn) against mortgages, credit cards and other loans to stricken US consumers, bringing the total over the last 15 months to almost $17bn.
The confessional is still busy.