Hong Kong now has a run on one if its banks

That was a nasty trick by rumor monger.

They blasted a rumor by using text messaging to start a run on BEA on their Lehman exposure.

Then they sent out a fake letter to do the same to AIG.
 
The bank's image was tarnished on Sept. 18 as it reduced its first-half profit by HK$109 million because of ``manipulation'' of the valuation on equity derivatives it holds. The restatement prompted Moody's Investors Service and Standard & Poor's to say they may cut BEA's credit ratings.
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another Nick ?
 
another rumour is that some hedge funds short BEA's shares beforehand and deliberately spread bad news thru sms messages to local people so that they can benefit from BEA's price fall

btw, there's still long queues outside the Bank's branches
 
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