nab interesting article in business specatator, page-18

Wouldn't be too concerned about this announcement. Most of the world will ignore the NAB and rightly so. Its the bank that gave us HomeSide lending, screwed up some FOREX trading a few years back and recently had some of the worst returns for years (when even the ANZ was doing fine!). Also, lets not mention MLC, the Wealth Management arm, etc. Is it any wonder they are now smaller than the CBA, when once they were larger?

PS: Before anyone says anything about NAB's size, market share, etc and how these cannot be ignored, NAB management admitted that they should have rid themselves of the exposure back in early 2007. Instead they held onto them - why? For fear of making a loss? Or because it was AAA paper? They have economists that help direct what they do, but it didn't help them in this instance (of course, this could be said of any of the other banks too).

This is just another NAB stunt - trying to show they have turned a new leaf and are now ultra conservative. I think the world will see past the announcement and largely ignore it.