If SGR collapses, given what happened when MQG's competitor Babcock and Brown collapsed, MQG might be in some contagion strife.
SGR will probably not be allowed to collapse due to the systemic risk and potential for the whole ASX market, superannuation and super funds to go belly up but there is the possibility even though a small one.
Macquarie was spruiking a takeover of SGR by Wesfarmers not too long ago so it is a wonder how much exposure MQG has to SGR beyond the obvious contagion risk.
ASIC should ask MQG for a disclosure of its SGR exposure.
Will MQG have enough capital to sustain a solvency event if SGR collapses and the ASX market goes into meltdown?
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