Yes, bailouts by Govt (taxpayer) come in different forms. The Govt guarantees was just part of a wide program of bailout measures ($Bns AUD) vigorously lobbied and demanded by the banking sector at the time, and indeed was very timely as the then fear was the economic and banking system was just days away from major catastrophe. The same banking sector had to be dragged kicking and screaming as to investments in those packaged CDOs, and such, initially denying they had any involvement, then "it was just a few", the finally the extent of the risks was revealed.
WBC Price at posting:
$31.80 Sentiment: None Disclosure: 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)