cba stung by broker downgrades

Article in SMH online. References that CBA has been downgraded by brokers as it needs to raise capital. Also comments that exposure to Centro is weighing on investors minds.

Funny that. That's exactly what Selmax and I were discussing the other day. They are the most secured of all the lenders yet Centro is affecting CBA. That's because the fact that the debt is secured matters little because it will be a bloodbath of a loss on secured and unsecured lending if Centro goes down.