The disclosure that Macquarie bank is withdrawing from the mortgage finance business is very significant IMHO.
It means they think that line of business is pretty much permanently cactus.
If they really thought the current "financial crisis" and coming "recession" were temporary ( and by temporary I mean up to a couple of year, not a couple of months ), then they would maybe be pulling back a bit, but not giving up on, that line of business.
mqcq withdrawal from mortgage mkt significant
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