Dargie
you are a smart one. You may be spot on. I'll put my money on the RBOS. They did a similar with with CNP a few months bank....created a fuss and the aussie banks had a heap to lose so somehow they tell the syndicate stirrer to shut up or somehow get them to back out...maybe buy out their stake.
BNB is not in a great positions...but the banks letting BNB go into liquidation / receivership will prob get 30% back in 2-3 years.
The current CEO is proposing to have it mostly covered by 2011...only 2-3 years away and the economy may be in a lot better shape then.
I reckon you would be spot on with your call.
Interesting stuff.
BNB
babcock & brown limited
