mqg red rover - here's why, page-11

lp2 i agree with you fully. Without the government guarantee Macbank would be toast. I think people are started to get a clue that when you buy a macquarie product whether it be installment warrants, debt products, capital protected rubbish or any other so called "investments" Macbank are ripping you off. The risk gets heavily transfer to you while they collect fat fees. No one will buy their products anymore.

You can also value management fees from listed or unlisted satellites at zero as all of them are on the brink. The only profitable division is probably investment banking side. Mergers, acquistions and capital raisings.

In short the smarties at macbank have out smarted themselves. It's pure leverage machine, so hero or zero for them. I hope it doesn't collapse because Macbank employess won't be paying for this mess. It will be us, the taxpayers who have guarantee'd their debt.