Aint it amazing how companies can go from being "market darlings" to "bad boys" in less than a year.
In most cases the companies and organisations havn't changed too much from when the banks "loved" them.
Bad companies, bad credit risks, and bad loans were just that 12 months ago with the low doc loans, and the banks falling over each other to lend money, but the banks didn't care back them.
Their gung-ho imprudent lending practices and herd mentality are exclusively to blame for what has happened world wide.
The banks current new look herd mentality is rather like that of a nation at war...just bomb everything... including the innocent civilians..it doesn't matter.
And aint it amazing that in Centros case they have never done anything to earn this "bad boy" title.
By that I mean the banks loans to Centro have never been at risk. Centro have always paid its loans when due and have always demonstrated ample cashflow and profit to service its debt.
But yes, this current fiasco with the NAB will actually strengthen Centros position, because it reinforces what I said more than 6 months ago that the banks cannot afford to force yet another company who DOES pay its debt to the wall.
A thought for the weekend:
The lowest position on the ladder of live used to be the piano player in a brothel.
I wonder if they have now moved up to be above bankers.
LOL
Cheers
Bendigo
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
