Commonwealth bank, in addition to the acquisition of BankWest and probably repurchase of RMBS (Residential Mortgage Backed Securities) has acquired A$2.25 Billion of Wizard home loans. They're a fan of taking on debt too hot for others to hold. Many would call this "catching the falling knife".
In other news, AIG is to report a $60 Billion loss and is threatening bankruptcy if they don't get it this week. Also, the UK banks need £500 Billion government loss insurance to prevent everything from seizing up over there.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment