Tuesday, October 7, 2008

Government: Banks shoud buy back troubled bonds


Our government urges banks and brokers embroiled in the minibonds debacle to buy back the investments to bring an end to the investors' misery.
The market values the Lehman Brothers minibonds, originally worth HK$12.7 billion, at HK$7.24 billion.
Some of the minibonds are almost worthless while most of them are still worth around two-thirds of that the investors paid.
The government hopes that investors would be able to get their money back before the end of this year.
So does this mean most people will get two-thirds of their money back?

No comments: