DTCC sends issuer failure notice to HSBC Bank last Friday.
(www.dtcc.com)
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While it’s not uncommon to see these notices it is uncommon on larger institutions. Lehman received one a month before they went under in 2008 during the housing melt down.
This is important. Just not sure how big yet.
Love those primary sources, thx fren.
And the Resident says the economy is doing great. The economy is doing so great that banks are failing at an alarming rate. Let's face it, the problems Bank of America recently faced say that the bank is going under. It ties in with the vaccines because the more people they killed, there are less people available for torch and pitchfork operations.
Whatever the case, Warp Speed is the reason these banks are starting to fail. Hence, the real reason why President Trump likely wanted to lose. The quickly imploding economy will be blamed on everyone in power including behind the camera at the networks.
BOHICA
ELI5 please?
When a company fails to pay a dividend, interest, etc that is expected, the DTCC (Depository Trust & Clearing Corp) issued a failure notice.
While not uncommon to see these failure notices on smaller companies as they struggle financially, it is NOT common to see these notices on larger banking corporations like HSBC bank.
The last time I can remember seeing a failure notice on a large institution was against Lehman during the 2008 financial & housing melt down 1 month before they went under. (Watch the movie “The Big Short” to understand what happened that time)
There has been a lot of speculation on other sites I’m on that the naked shorts are so far out of control that banks have been robbing Peter to pay Paul for quite some time and that many financial institutions can no longer keep their head above water and their ponzi scheme practices are catching up with them.
If that is what is going on with HSBC then it may be the first domino to fall in a financial melt down.
You can monitor the failure filings here:(https://www.dtcc.com/legal/important-notices?subsidiary=DTC&category=Settlement&pgs=1)
Have small private/institutional shops and hedge funds closing up in droves right now too and that means selling at losses and clients withdrawing cash for Custodial banks and Prime Brokers. So many PB's are seeing value outflows that used to be on book assets and can see more coming. As PBs are leveraged, loss of real capital is causing issues for sure.
We have some big selloffs left before the next boom, where i see crypto being the new nasdaq in its lead of next gen companies.
Than you for this! Lol, I never put the "naked" short term together with the Margot Robbie bubble bath scene🐸
Kek!