I regard most of what you post as complete rubbish but my view of their approach to these breaches is even more scathing than this article.
For anyone with even a passing knowledge of how projects and risk are meant to work within banks that any bank could have allowed this to happen and continue for so long implies nothing short of abject failure at multiple levels.
While there was some acknowledgement of problems in yesterday's announcement, I didn't feel there was enough recognition of the impacts. The tone was all a bit too much "we're making some changes now let's move on" for my liking.
I've been a customer with Westpac for over 30 years, now seriously looking at changing banks.
WBC Price at posting:
$18.18 Sentiment: None Disclosure: Not Held
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