Wow, Michael West has been entertaining me all day and funnily enough he has also just commented that the "speed" of BNB's demise is breathtaking and how the German Bank is effectively holding a bunch of other lenders CBA, NAB, ANZ, Westpac and Suncorp (i.e. all of the Aussie Banks) to ransom.
Does this situation sound familiar? What do you think is going to happen. If the Aussie banks "man up" and get rid of this German trouble maker, you can best bet that they have had enough write-downs for one year thank you very much. So this will be good for Centro.
If they don't and BNB goes to the cleaners, I think again that they will have enough write downs thank you very much and this will also be good for Centro.
If BNB goes along the same path as Allco, MFS, ABC etc etc and CNP/CER make it...Wll then what a vindication it will be for us having the strength, belief and temerity to stand by our investment.
CNP Price at posting:
4.2¢ Sentiment: None Disclosure: Held
