I will concede that the board may not have known, but that is no solace to me. And it isn't mismanagement either.
Good luck CFU, but I don't like your chances unless you can prove prior knowledge or reckless indifference.
Everyone knows that Oakvale will just hide behind the S&P ratings - that's why S&P have been joined in the action.
And S&P will just hide behind the Bank - that's why the Bank has been joined too.
On another tack ...
One has to ask why did Oakvale choose CDOs? As with **ALL** financial advisers and consultants, the choice is driven by the commissions. The CDOs had the bigger commissions of course. And why did the CFU chief of risk who 'had a relationship' with Oakvale happily go along with it all .....?
CFU Price at posting:
7.1¢ Sentiment: Hold Disclosure: Not Held
