Apparently, it is the Republican caucus, which is holding up the $700bn rescue package in the United States for the banks. I wonder what British independent financial advisers (IFAs) could recommend in these troubled times.
www.searchifa.co.uk
Frances Kemp of Knowlden Titlow Financial Services Ltd gives an excellent review of the collapse of U.S investment bank Lehman Brothers.
It is sad that HSBC is cutting jobs, especially back-office ones. They were'nt the ones responsible for investment decisions in areas such as mortgage-backed securities.
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