kiril,
Thanks for your detailed reply. You obviously have been following the industry for some time. I appreciate your caution and knowledge, but just a couple of points.
I really don't care if YBR ends up as a mortgage lender if that is profitable, rather than being a financial advisor, that it espouses.
If Macquarie have lost other avenues previously, wouldn't that make them more inclined to back a future winner, and not see it fail?
Cheers
