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Lee Siu Hoi

Lee Siu Hoi
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  • JPMorgan (JPM) and HSBC (HBC) cannot be sued for fraud and $30B by Bernie Madoff's liquidator - Irving Picard - because Picard himself is the trustee for Madoff's fraudulent enterprise, rules a federal appeals court. "Picard stands in the shoes of (Madoff) and may not assert claims against third parties for participating in a fraud that (Madoff) orchestrated." [View news story]
    Logic prevails.
    Jun 21 09:35 AM | Likes Like |Link to Comment
  • District Court Judge John Gleeson is reportedly considering rejecting HSBC's (HBC) $1.9B deal with authorities over money laundering charges involving terrorists and drug dealers. Should Gleeson quash the agreement, HSBC could be left open to criminal prosecution and a ban from operating in the U.S., although the DOJ is questioning whether the judge has the authority to reject the deal. We could hear more details at HSBC's annual meeting today. Shares -0.9% in London. [View news story]
    I understand your view, but your are misled. They only punish the shareholders, not the managers who make the decisions. These managers are not on US shore anyway. They refer to the UN blacklist which is much shorter than the US blacklist.

    DOJ has no way to prove beyond reasonable doubt for any individuals to be personally accountable. They might end up not even able to fine HSBC.
    May 27 10:39 AM | Likes Like |Link to Comment
  • District Court Judge John Gleeson is reportedly considering rejecting HSBC's (HBC) $1.9B deal with authorities over money laundering charges involving terrorists and drug dealers. Should Gleeson quash the agreement, HSBC could be left open to criminal prosecution and a ban from operating in the U.S., although the DOJ is questioning whether the judge has the authority to reject the deal. We could hear more details at HSBC's annual meeting today. Shares -0.9% in London. [View news story]
    US has gone crazy. None of the allegations happen in USA. How can you prove beyond reasonable doubt?

    HSBC never make any money in US anyway. No allowed to operate in US?! Is that a promise?!
    May 24 09:48 AM | Likes Like |Link to Comment
  • "You're getting cost cuts as a means of sustaining performance and that's not a great sign," says analyst Simon Maughan. "What HSBC (HBC) is showing you (job cuts earlier) is that there is very little growth in the banking industry (XLF) for years to come." CEO Stuart Gulliver notes HSBC has met its savings target, but hasn't met a goal to reduce costs as a percentage of revenue because revenue hasn't grown. [View news story]
    That was a question I asked three years ago to HSBC management. And to be honest, they are right.
    May 15 08:04 PM | Likes Like |Link to Comment
  • Which British Banks Are Worth Investing In Now? [View article]
    Politicians always take the easy way out, at least 99% of the time. The Germans were pushed into it after WWI because the American Government pull back their loans to Germany due to the Great Depression in the 1930's.

    And the American Government are forcing China to pull back on North Korea today. So I do not think they learn from history anyway.
    Apr 18 09:53 PM | Likes Like |Link to Comment
  • Which British Banks Are Worth Investing In Now? [View article]
    What stops them printing more money? I am not challenging, I am just asking before I place my bets.
    Apr 16 09:42 PM | Likes Like |Link to Comment
  • Which British Banks Are Worth Investing In Now? [View article]
    As they get their comeuppance, what would happen to United Kingdom's financial industry and the role of London in the financial world?
    Mar 13 06:07 AM | Likes Like |Link to Comment
  • HSBC: Not Cheap Enough [View article]
    This is a very shallow view. None of the banks being compared have comparable branch network, or the same portfolio mix of clients by industry, or by geography. The management styles are so different.

    It is like trying to compare different horses from different countries and different breed and different jockeys, on different courses. What is the point?
    Dec 19 08:51 AM | 1 Like Like |Link to Comment
  • Why The U.S. Didn't Prosecute HSBC [View article]
    I do not really care. I am a shareholder and the Asia Pacific arm of HSBC never deal with those problem transactions. Think of it this way. I give 1 share of HSBC share back and for each share you give me 1 HSBCAsia, 1 HSBCEurope and 1 HSBCAmerica. I throw away the HSBCAmerica share which is worth nothing. The HSBCAsia share is already higher than the original HSBC share because it does not have to subsidize the HSBCAmerica share. And I get HSBCEurope as the profit.
    Dec 19 08:37 AM | Likes Like |Link to Comment
  • HSBC: Not Cheap Enough [View article]
    Historically HSBC used to be the regulator of Hong Kong. As such they never crossed the line before 1997. It is the banks they acquired in the Americas that are in trouble. The regulators should themselves apologize to the shareholders of HSBC why they have allowed the acquisition to go through without proper due diligence. The shareholders are bearing the negative consequence and those who are negligent, including the original bank management and regulators, are getting away from it.
    Dec 18 11:16 PM | 2 Likes Like |Link to Comment
  • The Bank of England and FDIC unveil the first cross-border plan to deal with too-big-to-fail banks that start...failing. Senior management would be sacked, shareholders would be wiped out, and unsecured bondholders "can expect that their claims would be written down to reflect any losses that shareholders cannot cover," which didn't happen in the financial-crisis bailouts. (PR[View news story]
    That is not how they see things. Regulators are accountable to politicians and politicians sometimes see troubled banks as political liabilities. To big to fail banks are too big to fail political liabilities.
    Dec 18 03:57 AM | Likes Like |Link to Comment
  • Why The U.S. Didn't Prosecute HSBC [View article]
    Personally I own HSBC shares and am too happy to see HSBC to be torn apart so that it's Asia Pacific bank can be separately listed and do not have to subsidized the USA bad debts. The company is worth more torn apart than together. We just have to declare the US branch of HSBC bankrupted and who care whether the USA regulator persecute anyone in the USA!
    Dec 18 03:51 AM | Likes Like |Link to Comment
  • Why The U.S. Didn't Prosecute HSBC [View article]
    For the Iran business man, it is simple - deal in GBP and settle the money in London. Forget about USD and HSBC can happily do the business without committing any crime.
    Dec 14 07:40 AM | Likes Like |Link to Comment
  • The Bank of England and FDIC unveil the first cross-border plan to deal with too-big-to-fail banks that start...failing. Senior management would be sacked, shareholders would be wiped out, and unsecured bondholders "can expect that their claims would be written down to reflect any losses that shareholders cannot cover," which didn't happen in the financial-crisis bailouts. (PR[View news story]
    If UK Government bails out a bank, then they have the right to sack anyone. But UK Government does not have enough money to bail out HSBC so why on earth they think they have the right to sack anyone?

    Legislators should make Golden Parachute illegal if a company fails to make money. This is regardless of company size, large or small or whether it is a bank or not.
    Dec 13 11:40 AM | Likes Like |Link to Comment
  • The Bank of England and FDIC unveil the first cross-border plan to deal with too-big-to-fail banks that start...failing. Senior management would be sacked, shareholders would be wiped out, and unsecured bondholders "can expect that their claims would be written down to reflect any losses that shareholders cannot cover," which didn't happen in the financial-crisis bailouts. (PR[View news story]
    It is amazing! I guess they mean HSBC. If HSBC is a country, it would be the size somewhere close to Oman or Syria. Is it too big to fail? Well, Syria is failing anyway whether it is too big to fail or not. I guess they want to fire Assad yesterday, if only they could.
    Dec 11 07:03 AM | Likes Like |Link to Comment
COMMENTS STATS
26 Comments
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