Banks know that writedowns are broad and investment banks are really taking a caning.
It would be in the Aussie Banks interest to see Centro through and keep the extensions open as they themselves will be starved of cash possibly face a massive loss.
With Aussie banks already on being hit I dont see them rushing in like Bulls at a Gate to liquidate and either does the market.
If Centro starts defaulting however it could be a different story. Consumer spending in the US is up a little this month so the situation in US looks to have stablizied a little.
At 20cents it's good value and if dips a little lower than that I will be lining up to buy some large parcels for keepsake.
Good Luck and lets hope they keep the ship afloat.
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
