Well if the banks havn't done their homework why are they...

Well if the banks havn't done their homework why are they scrambling.The reason there is a mess is that the banks lent excessively and didn't monitor the situation re companies p/l and cash flow and expenditure.The whole reason of the credit crunch is banks have benn loaning willy nilly.Sure the OZL management didn't monitor their own budgets but a bank should be there in the background watching as well.Call in the loan and the banks can see what the assets are worth at market.If they take a hit they have made a mistake.