I don't think that AFG had good management. If the previous board was capable then it would not have bought a nurmous business that it could not integrate in a timely fashion.
Personally, the banks need to think hard about the potential impacts if they do pull the pin because many people will be unemployed and they have dependants. There will be others in similar boats like CER, CNP etc. More importantly what are the consequence if they follow their policy blindly?
The other question is what are the risks to the banks? In the current state of play, how much tailoring is required to their policy? How far reaching does the tailoring apply to other parts of the banking business like mortgage repayments.
I don't know cause I don't work in the banking industry.
AFG Price at posting:
6.5¢ Sentiment: None Disclosure: Not Held
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