News: CBA CBA Launches Commbank Perls XVI Capital Notes Offer, page-4

They may have done well up till now...but they have never been really tested when the SHTF

There is a reason why banks like issuing this type of debt and not more capital, it offers them leverage
and protection from the downside, hybrid owners take the haircut when things get real bad, and offers
banks more profits when the sun keeps shining

At present things may still get real bad, there is probably a 20% chance of things getting real bad in
the next few years IMO, even if it doesnt the risk reward of these hybrids are not for me

So CBA spent $24 million of their own money buying back their own shares yesterday alone, I thought
you would only buy back your own shares when there was nothing better to buy.....but alas not one
analyst out of the 16 on morninstars list has this as a even moderate buy, they are either hold or sell
with the most rating this a strong sell

If the SHTF dont have your handout for government help...because you have spent your emergency money
buying back your own shares....instead of saving it for a rainy day when it might come in real handy

cheers grant