Archive for April 9th, 2009

Preemptive rights issues for banks: Better than bailouts?

In March 2009, HSBC PLC strengthened its finances by making a preemptive rights offering of new equity. The bank quickly raised $18.5 billion dollars. Unlike Citibank, Bank of America, and other giant US banks, HSBC did not have to sell its soul to the government to stay in business. HSBC had the good fortune […]

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