I read Against the Gods : The Remarkable Story of Risk by Peter Bernstein every now and again
Great book about risk in general ....from every day living to financial markets.
http://www.amazon.com/Against-Gods-R...9419948&sr=1-1
Printable View
I read Against the Gods : The Remarkable Story of Risk by Peter Bernstein every now and again
Great book about risk in general ....from every day living to financial markets.
http://www.amazon.com/Against-Gods-R...9419948&sr=1-1
Not claiming to be a banking guru myself PT, never have done. I am surprised you dismiss the credit rating skills of the likes of Fitch and the risk capital requirement assessments of the Reserve Bank so curtly though. If you believe that the BBB- risk assessment of Heartland when it was set up was too harsh (it may have been) I would love to know why.
SNOOPY
Seeing as we currently in a historical thoughful mood my guess is the primary motivation for the merger was the need to hide the MARAC mess beneath the skirts of the CBS Canterbury balance sheet.
And the update of this; They got away with it.
Boop boop de do
Marilyn
The out come of the mergers and the recapitalization has provided all shareholders with a Bank to be proud of.
Nothing was ever hidden.Shareholders were told what was needed,and where the directors saw the company's future as a bank was.
Those who put the merger together had great foresight.
Capable people with vision.
https://www.youtube.com/watch?v=zKhEw7nD9C4
Best Wishes
Paper Tiger