Originally Posted by
Roger
This is absolutely crazy. Do people not realise that as a Tier 2 capital note these in tandem with shares are first cab off the rank when it comes to the Reserve Bank's open bank resolution ?
Are people unaware that the ANZ bank has had the sharpest fall in its ordinary SP of any of the major Aussie banks and that they have MASSIVE exposure to the mining and dairy sectors with many of their customers unable to pay their bills ?
I thought these things were stupid at the issue price...at 4% that is a completely ludicrous situation IMO most especially in light of what is a pretty serious correction in banking shares globally. Have grannies and orphans really had the risk explained to them properly ????? or is this the next Credit Sails situation where people sue the bank for misrepresenting the risks involved ?
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