bnbg - looking to the future..., page-7

Ok Dogby, you need it spelled out ...

Lets say that Larkin, et al, manage to turn around the "for sale" assets at prices considerably better than the fire sale values (as will be assessed in the '08 accounts).

Further, lets say that the lower BBSW makes the funding of some of the existing infrastructure assets more attractive (higher margin) for the business.

Let's say BNB actually digs itself out of a hole!!

The banks get to roll their recourse debt on favourable terms and do not suffer any impairments. They get their non-recourse corporate debt back. They also make a tidy packet in their perpetuals!

BNBG holders get to continue, with some prospect of full repayment. BNB ordinary holders may even have some prospects!!

In the event things go badly, from here. The banks are no worse off than they are currently. They might even be slightly better off, on average, due to some degree of restructure and simplification.

If the team can pull off a deal for all stakeholders - I, for one, will be well pleased!!