Airports might be the place to be if Star Casino fails down in Australia. Bad for Macquarie. Much more capital buffer will be required. With all the money laundering improvements, ASIC and AUSTRAC investigations into the collapse, being a Director down in Australia might be one more way to go bankrupt.
Who would still insure a Macquarie Director or provide Directors and Officers insurance in Australia if Star Casino goes bust?
Macquarie Bank might need to downsize to avoid a Babcock and Brown situation happening to it.
Australian banks might fail if a contagion effect takes hold. The Aussie banks will need much more capital buffers if Star Casino fails, probably double the capital buffer and that will probably require a capital raise across the Big 4 probably even more depending on who has been exposed to Star Casino.
Macquarie Bank could end up like Babcock and Brown.
MQG Price at posting:
$225.89 Sentiment: Sell Disclosure: Not Held
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