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07-27-2008, 09:42 AM
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Having All The Fun I Can Stand
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Join Date: Mar 2008
Location: Rhode Island
936 posts, read 589,847 times
Reputation: 898
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News: National Austraia Bank To Kick Wall Street In The Teeth!
As other global banks continue to mark their US housing bonds to market, The National Australia Bank decided to take the bull by the horns and write off 90% of their $1.2 billion CDO's and SIV's. All this while Bernanke, Paulson, and Bush try to calm jittery markets. Wall Street will have a heart attack when this gets around!
Business Spectator - NAB will shock Wall Street |
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07-27-2008, 09:59 AM
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Senior Member
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Join Date: Feb 2008
Location: Raleigh, NC
9,047 posts, read 3,121,349 times
Reputation: 1275
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Quote:
Originally Posted by Nor'Eastah
As other global banks continue to mark their US housing bonds to market, The National Australia Bank decided to take the bull by the horns and write off 90% of their $1.2 billion CDO's and SIV's. All this while Bernanke, Paulson, and Bush try to calm jittery markets. Wall Street will have a heart attack when this gets around!
Business Spectator - NAB will shock Wall Street |
Time for some more Babcock & Brown after the panickers flee the building. |
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07-27-2008, 10:22 AM
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Having All The Fun I Can Stand
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Join Date: Mar 2008
Location: Rhode Island
936 posts, read 589,847 times
Reputation: 898
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Neither BNB nor Macquerie can get the cat back into the bag, after NAB has let him out! NAB has grown a set, to come right out and say, "Hey, these things can't possibly be worth more than 10 cents on the dollar (if that)..."
Meanwhile, the rest of the world marks them the fantasy and keeps 'em off the balance sheet, saying nothing. Hmmmmm.
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07-27-2008, 10:24 AM
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Senior Member
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Join Date: Feb 2008
Location: Raleigh, NC
9,047 posts, read 3,121,349 times
Reputation: 1275
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Quote:
Originally Posted by Nor'Eastah
Neither BNB nor Macquerie can get the cat back into the bag, after NAB has let him out! NAB has grown a set, to come right out and say, "Hey, these things can't possibly be worth more than 10 cents on the dollar (if that)..."
Meanwhile, the rest of the world marks them the fantasy and keeps 'em off the balance sheet, saying nothing. Hmmmmm.
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Right, but B&B has foreign holdings. Very little US exposure. Since the Australian economy will ultimately benefit from dumping us as dead weight, I would suspect this would be positive in the long term for this organization. |
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07-27-2008, 11:45 AM
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Waiting to pick up the pieces from the crash
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Join Date: Oct 2006
Location: Key Largo
6,270 posts, read 5,479,538 times
Reputation: 2056
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Quote:
Originally Posted by ViewFromThePeak
Right, but B&B has foreign holdings. Very little US exposure. Since the Australian economy will ultimately benefit from dumping us as dead weight, I would suspect this would be positive in the long term for this organization.
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I think most economies would benefit from dumping the USA as it is definately dead weight. |
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