the bank is falling apart at the seams and its not Goodes fault, he is just the chairman lol ANZ is a complete joke for even trying to sell that story, ANZ shareholders need folk that take responsibility for ludicrous banking practices, Goode is more worried about his reputation than the bank, Goode is a complete and utter disgrace, he has enriched himself and shareholders who have bought in the last 7 years have lost the lot.
If he had any balls he would have shut up and resigned as soon as the extent of the problem had become known. This way the bank would have been seen to be taken the action it needed to stop the bleeding, instead we get them compounding their poor governance with stupid Opes decisions.
Goode certainly new about that didnt he!
mark my words ANZ will barely survive the mid to later stages of this downturn, they will be pushed to the brink and only their govt backing will steer them through it
Smith is praying for a turnaround, he is praying for central bank intervention to take hold, he is relying on stupid neo classic economist who fail to understand the credit structure of the market they operate in.
What happens when the +40B in global corporate debt deteriorates. What happens when their major monoline credit insurers Ambac and MBIA go to the wall leaving them in the hole for +10B?
ANZ Price at posting:
$14.05 Sentiment: LT Sell Disclosure: Held
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