they could go on a major slash and burn - offer 30c in the dollar settlements for quick cashflow and they'd still be quids in. Could be a new approach to their business model and a point of difference to the other debt collecting outfits. As the cash rolls in quicker they can keep buying more of the bank junk. Otherwise, despite the contracts I'm sure the banks won't pass over ledgers if PNC can't pay - no cash no splash.
PNC Price at posting:
28.5¢ Sentiment: None Disclosure: Not Held
