mate you are not even close!! I was working at Macquarie back in 08/09 - we were not a chance of collapsing - don't equate a falling share price with a collapse.
1. the Bank had over $2bn in excess capital at that time 2. yes the short sellers hit the share price but the underlying business was strong and diverse 3. we had no counterparty risk to the likes of Lehman brothers and others.
as insiders whilst it was scary (the whole world had gone crazy) we knew that the business was sound, we had capital and low counterparty risk. the Government deposit scheme helped ALL banks as the credit markets froze.
read the book on Macquarie "Millionsires Factory" it covers off exactly what happened in the GFC.
you are so off the mark just like the press and short sellers at that time.
MQG Price at posting:
$225.28 Sentiment: Buy Disclosure: Held
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