"This would be similar (in scale) to a major bank saying "no...

"This would be similar (in scale) to a major bank saying "no issues here with sub-prime. All good". Then putting their hand out for a $10 billion rights issue without a totally coherent reason except something like "this will give us more flexibility".

Actually that is exactly what SGB and ANZ DID do after their annual results.

Okay...it wasn't exactly $10b but they did seek to get their DRPs underwritten to recoup what they paid out in divs and they also issued further Income Securities to raise cash.

Coop