Purpose of $375 Million Provision, page-44

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EyeoftheTiger

8,204 Posts.

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02/03/18

09:02

Post #: 31470049
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Originally posted by buddy134 ↑

Sorry to be the one to bear bad news to you, but CBA hasn't come out unscathed. Not yet anyway.

There is fair while to go as yet, and a fair bit of agony that they (Or better still us investors), will have to go through before it can be claimed that it can all be put behind and start moving forward.

Neither AUSTRAC, nor ASIC, have closed the files on the CBA as yet so don't count your chickens before the hatching has been completed. Damages and penalties payable could, as a matter of fact be much greater than the 350 mill we have put aside. But we all know that a deal could be done behind closed doors where that money will be paid straight into the ASIC Bank Account (no one else), someone will the be a good pat on the shoulders for doing so, and bugger the shareholders which have lost their moneys.

And don't forget that we still have to handle that Court Case initiated by Maurice Blackburn (Is it MB,?)which is suing us via a Class Action too. The BOD and our dearly (NOT so dearly) beloved Chairman can say what they like in saying that they will defend it vigorously, but that is the usual thing that they say when they are caught out with their pants down around their ankles. In the meantime they will also spend many millions of our own money with Lawyers rubbing their hands in glee. We might even come to realise at some stage or another, that an agreement was reached and that an undisclosed amount of money was paid to settle this issue. And they will use the usual introductory phrase, or better still "crap",...."The Board I pleased to announce that.................."

Pleased for what............As to why they would use that "pleased" word, when there is nothing to be pleased about, that, I will never know.

Did you ever see any BOD's admitting and/or announcing to the market that they stuffed up, and tell you exactly what could be due and payable to a third party for their wrong doings.??

I haven't........................

Can you just imagine what it would do to their shares prices if they were to do as such.??

I wish I was as sure as you are, but..............unfortunately I am not!!! Not until I will see that the whole CBA ship has turned around from their current course and headed to much better and safer waters. But we need a new captain and a new one telling/ordering the captain what to do before it will happen.

Cheers and good luck

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Better to fight on until the last drop of blood than admit defeat. After all we have a massive trump card which I'm surprised hasn't been raised by CBA yet, the more they try to regulate and take legal action the more those costs can be added to mortgage rates. Shareholders won't bare the brunt of the costs of these dramas, we have a tap on average Australian households, we have more control on the RBA or the Fed Government and could send this garbage economy back to the good old days of 1991!

CBA Price at posting: $76.06 Sentiment: Buy Disclosure: Held
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Last $152.84		Change 3.220(2.15%)		Mkt cap ! $255.7B

Open	High	Low	Value	Volume
$150.89	$152.84	$150.43	$277.1M	1.822M

Buyers (Bids)

No.	Vol.	Price($)
1	4	$152.66

Sellers (Offers)

Price($)	Vol.	No.
$152.85	3651	1

View Market Depth

No.	Vol.	Price($)
1	4	152.660
2	2943	152.370
1	50	152.350
1	150	152.330
1	50	152.310

Price($)	Vol.	No.
152.850	3651	1
152.860	63	1
152.870	19	1
152.880	388	1
152.890	525	1

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Purpose of $375 Million Provision, page-44

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Purpose of $375 Million Provision, page-44

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