It is widely believed that CBA, Westpac and a number of government funds have been burnt investing in the Sub Prime Mortgage backed notes in the USA.
The rush for the exit door and the blame game is about to begin. There is much to be said for glossing over the exit or absence of wily high performance traders at major banks and the reasons for wanting to list various funds under management by banks now that the veneer is begining to peel under the heat.
More scandalous is the fact that Michael Milken and his brother Lowell have been advising a number of the banks that hold sub prime mortgages into securitising them and on selling these to buyers such as the Australian markets.
Michael Milken was barred for life from involvement in the securities markets in the US after the DBL scandals of the 1980's.
How much did Peter COstello know. How much did John Howard know. How much did our major bankers know or ought to have known?
Where will the axe fall?
It is widely believed that CBA, Westpac and a number of...
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Last
$131.66 |
Change
1.740(1.34%) |
Mkt cap ! $220.3B | |||
| Open | High | Low | Value | Volume |
| $130.80 | $131.84 | $129.89 | $256.3M | 1.965M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 601 | $131.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $131.66 | 712 | 1 |
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