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A New Mortgage Crisis

|Includes: HDFC Bank Limited (HDB)

According to a friend HDB is a rather large Indian bank that has similarities to Washington Mutual. They like to make mortgage loans.

Several months ago the Board of Directors optimistically declared a 5 to 1 stock split. Given the price this seems logical but what if traders discover that this is nothing more than another countrywide? How long will it take before the Board will need to do a reverse split?

Disclosure: I am short HDB.