Australia & Northern Rock?

[vishalt]

From 1250 pence to 250 pence.

Welcome to reality, this COULD happen to your stock. Northern Rock's share price got shattered in just days, and what really tazes my confidence is that its a FTSE100 member, and a bank - albeit a specialist mortgage bank.

Could this happen to our 5-strong pillar - Commonwealth, NAB, St. George, ANZ, Westpac? Or even our regionals - Adelaide, Bendigo, BoQ? Or even Suncorp/QBE?

Makes ya think twice before blindly putting money in a bank expecting a defensive investment...

 

[Garpal Gumnut]

From 1250 pence to 250 pence.

Welcome to reality, this COULD happen to your stock. Northern Rock's share price got shattered in just days, and what really tazes my confidence is that its a FTSE100 member, and a bank - albeit a specialist mortgage bank.

Could this happen to our 5-strong pillar - Commonwealth, NAB, St. George, ANZ, Westpac? Or even our regionals - Adelaide, Bendigo, BoQ? Or even Suncorp/QBE?

Makes ya think twice before blindly putting money in a bank expecting a defensive investment...

The panic has abated for the present.

http://www.telegraph.co.uk/money/ma...VCBQYIV0?xml=/money/2007/09/18/bcnbank218.xml

Don't you love fear and greed.

Lets hope NAB picks the carcass.

Garpal