Wednesday, January 21, 2009

HSBC Rating Downgraded by Societe Generale

As the United States swore in its 44th president, the market plummeted under the weight of the continuing financial crisis. Europe-based banks led the decline after Royal Bank of Scotland (RBS) warned of a massive annual loss, and HSBC Holdings (HBC) was initiated with a "sell" rating at Societe Generale.

I knew it is coming.

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