Staff at Dah Sing Bank were still selling Lehman Brothers minibonds in the weeks leading up to the Wall Street giant's collapse in September 2008. Testifying before a Legislative Council subcommittee investigating the minibond debacle, the bank's managing director and chief executive, Derek Wong Hon-hing, said the decision was made because the minibonds had a Grade A rating. In hindsight a different decision could have been made, he said.
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Staff at Dah Sing Bank were still selling Lehman Brothers minibonds in the weeks leading up to the Wall Street giant's collapse in September 2008. Testifying before a Legislative Council subcommittee investigating the minibond debacle, the bank's managing director and chief executive, Derek Wong Hon-hing, said the decision was made because the minibonds had a Grade A rating. In hindsight a different decision could have been made, he said.
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