Cranny and Co, there isn't any reason at all why it cannot fold, or be sold in a fire sale. It is just a business after all, and one that appears to have made some fairly poor choices.
Anyone read the Crawford report? The Board allegedly haven't got a clue what is going on in the bank.
Pillar or no pillar, there could be a myriad of other exposures that the board either didn't know about at all, or chose to ignore the ramificaitons thereof.
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