I'm quite happy to be wrong, but with people out of work and the option
ARM recast wave coming....
May 11 (Bloomberg) -- HSBC Holdings Plc, Europe’s biggest bank, said 2009 will be a “tough” year as bad loans increase and the economy deteriorates.
Charges for impaired loans rose in all customer groups and regions during the first quarter, London-based HSBC said today in a statement, without providing figures. In the U.S., where HSBC reported complete first-quarter earnings, provisions rose to $3.95 billion from $3.19 billion a year earlier.
