I thgink it was Kohler who wrote the doomsday article. And I agree with his thoughts.
The NAB are taking the full hit rather than washing the losses out over a number of years.
Yankee investors have surely got to see the provisioning by their own bankers as "suss".
At the very least the US market are now on red alert that the losses might be much more substantial than initially thought. Remember, the NAB paper was AAA rated and now they write off 90% of it.
gottliebsen needs a bex and good lie down, page-2
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