One thing that bothers me, as lieutenant Colombo used to say, is why a government regulator that think that their 4 major banks are to big and wants to make them smaller, would allow formation of a fifth giant. Would that not just add to their problems in case of another banking crisis, or would it be a case let the foreigners fail and save our local boys.
I applaud Cameron,s resolve not to overpay for the assets this time. I am pleased he learned something from the AXA debacle where NAB kept throwing good money after the bad and many ordinary shareholders questioned bank's arrogant judgement.
Hopefully, he got the message and he is curing himself from the delusions of grandeure. I would like him concentrate on the business of making money for the owners, you and me, the shareholders, not wasting them on expensive experiments of dubious merit.
NAB Price at posting:
$26.37 Sentiment: Hold Disclosure: Held
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