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Storm's financial maelstrom threatens banks

Discussion in 'Finance & Banking' started by Tropo, 23rd Feb, 2009.

  1. Tropo

    Tropo Well-Known Member

    17th Aug, 2005
    Storm's financial maelstrom threatens banks

    Commonwealth was not the only service provider to Storm.
    Macquarie Bank offered margin loans, the Bank Of Queensland mortgages and Challenger Financial Services provided Storm-branded index funds.
    All of them can expect to be dragged into the Storm investigation under way with the Australian Securities and Investments Commission and the Senate inquiry about to start.
    But nobody was as closely intertwined with Storm as Commonwealth Bank…..
    more…. Storm's financial maelstrom threatens banks
  2. Chris C

    Chris C Well-Known Member

    2nd Apr, 2008
    Brisbane, QLD
    Does anyone else think that it's a joke that the Storm execs to point the finger at insituitions such as banks when it was clear the biggest problem was far an away their degree of leverage and their strategy?

    It just annoys me that they point the finger at the banks hoping they ride off people's love for hating banks.