fools, page-14

Sholtz hope you are right for holders sake

Your point about "Nomad's Forecasts" - are they referring to the same type of forecast from 21 October? They looked pretty accurate 10 weeks ago.

I can imagine the bankers handling the finance at Westpac would have just had an enjoyable meeting this afternoon, and have probably been told no bonus this year if this goes south.

Now lets look at how the meeting will pan out when they go to those same people who gave them an extension (mind you not a full roll of the facilities).

You don't need to be a genius to know that the banks are going to tighten the screws this time around, I reckon best guess at least another 100 points on the margin, or not at all.

As I said hope I am wrong. But I don't amble on down to the local bank afer having my income cut, and ask to review loan terms for good business practice - I go becuase I know I have a problem coming, and that I need to start sorting it out now.