Relax people. Its the Debt to Equity being priced in. IF the banks get 90% equity or something then the MAX the share could EVER be worth is like 50c (NTA of $6). I reckon BNBG at the mo is a better buy, because if banks do D2E the group can be assured survival and their notes will go down in yield (up in price) when their credit ratings are upped.
BNB
babcock & brown limited
be worth 10 cents or a dollar, page-23
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