it is always easy to be wise in hindsight, HOWEVER some commentators had been calling an impending catastrophe in relation to sub prime loans, a few years ago, warning that there would be problems when the iterest rates reset.
but heh - the nab write downs had nothing to do with "sub prime" loans, they were AAA
no doubt the banks pay their top people millions, to "safely" manage the affairs of the business. maybe the thinking was that the value of the real estate would provide a buffer - because maybe they thought the real estate does not go down
anyway, it wil interesting to see how the other banks respond
mmmmand how about the superannuation funds, - there could be a chance that australian super funds, have invested in these products - after all,the american pension funds would have
NAB Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)