NAB 0.18% $37.05 national australia bank limited

preopen,can ihear an advance on 180mm?#, page-12

  1. 465 Posts.
    Im a little confused?

    Last weeks anouncements were saying that the NAB had uncovered "unauthorised" Options trading in the book. These trades were said to be "signed off by the risk management" team as OK!.

    Now the press release is saying that there are "ficticious" recorded??

    What is a fictious trade?

    Are they saying they are fraudulent,

    How can you get fictious trades,

    Are they saying that there internal control systems are that BAD that the front office traing position does not balance to the back office counterparty confirmed position?.... by these fictious trades?

    WOW al I can say this coupled with the blowout on homeside is just a complete worry!

    I got out on Thursday!

    Good Luck to all that hold, but me thinks the loss is larger then 185 mill

 
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