Hypra | Shared With: Everyone - May 19 2008 | bank, banks, banking, business, investments, credit cards, loan, home loan, accounts, insurance, superannuation, directory, leasing, merchant, stocks, bonds, term deposit, financial planning, foreign exchange, broker, articles, news, rev
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banking
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Interesting offer from HK - it will back all of its banks' deposits, prompting reasonable questions about what happens if the world's richest people put their money into an HK bank that collapses.
My friends called me a few weeks back and told me about the run on the bank that occurred. Turns out it happened due to rumors that circulated via text messages. The HK "FDIC" insures deposits there up to $100,000HKD, or about $13000.
1 FaverQuoted:Li Kui-wai, the director of the Asian economic policy center at the City University of Hong Kong, said that Hong Kong’s history of attracting deposits from all over the world meant that the policy initiatives announced on Tuesday could prove costly. He questioned if the Hong Kong government and taxpayer could afford a bailout “if the one million richest people in the world put their money in a Hong Kong bank, and the bank goes broke.” Hong Kong’s action could put pressure on other international financial centers with very large deposits and limited populations that have not yet issued blanket guarantees of bank deposits, like Switzerland, which has roughly the same population as Hong Kong at about 7 million people. Hong Kong will back up its deposit guarantee with its foreign exchange reserves, now $161 billion.
- ms.kruse - Sep 18 20081 FaverViewed: 3 Times
- mohit - Sep 21 20081 FaverViewed: 9 Times
bonds
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Downward slope => bonds outperforming stocks. That has generally been the case the past decade other than from 2003-2007 and recently.
1 FaverViewed: 8 TimesQuoted: Although stocks have historically outperformed bonds, that hasn't been the case in recent years. Bonds haven't been just less volatile, they've been more profitable over the last ten years.
- mohit - Oct 13 20091 FaverViewed: 6 Times
- falko - Jul 06 20071 Faver
