CBA was fined $0.7m for lesser breaches in terms of scale. General consensus it will be most likely higher than the CBA fine (maybe 2x or even up to 3x). But still these figures are absorbable for a bank this large.
Gotta laugh at the fake news media reports of fines in the trillions. Yeah ok so that would mean the bank goes to the wall and is no longer in business. Guess who has to bail depositors out? Guess who’s retirement savings are affected? Think of how many job losses would result? These pundits already think we are a weak economy. Lets see how weak it can get with a banking collapse. That’s true economic armageddon!
WBC Price at posting:
$24.32 Sentiment: None Disclosure: Held
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