Word: bankses
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Lau says that some small businesses have also been harmed by their investment in so-called "mini-bonds," complicated structured financial products marketed throughout the world by now-failed Lehman Brothers. Hong Kong banks allegedly sold investors the mini-bonds as a relatively low-risk alternative to fixed-income investments...
Lam says his company, which makes coats for export, is in solid financial shape and will likely fare better than low-cost competitors. But securing credit remains a major problem for Hong Kong's small business community. "Right now we're facing trouble," he says. "The banks are advising us...
Less than a week after the British government sketched an $850 billion plan to steady a nervous banking sector and kick-start a recovery, the details are emerging. Following a flurry of meetings over the weekend, the British Treasury said Monday that it plans to spend as much as $63...
Despite those big stakes, the government is not interested in running the banks; its shares, the Treasury made clear Monday, would eventually be sold off "in an orderly way." But with voters baying for the blood of Britain's bankers, the government was careful to secure concessions in return for...
The effort to revive Britain's flagging banking sector has reversed the government's fortunes. Prime Minister Brown's broadly popular plan - which includes extra liquidity for banks and government guarantees for their debt - has inspired similar rescue packages across Europe. Still, one model won't fit all. "Some countries...