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National Australia Bank announces 10% recovery on AAA debt

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    National Australia Bank announces 10% recovery on AAA debt

    Its all here. very scary stuff

    http://www.businessspectator.com.au/...ial%20services

    #2
    Wouldn't it be far simpler and safer to offer a fixed term 50% reduction in repayments and interest to the high risk sub prime borrowers in default.

    I'm damned if I'd write off 90% just to get a quick (10%) return on a bad debt.

    But then again, if these idiots were stupid enough to build dodgy portfolios on sub prime bad risk clients/borrowers, perhaps it is too much to ask for a bit of common sense.
    Confusion is a natural state of being

    Comment


      #3
      Originally posted by Diver View Post
      Wouldn't it be far simpler and safer to offer a fixed term 50% reduction in repayments and interest to the high risk sub prime borrowers in default.

      I'm damned if I'd write off 90% just to get a quick (10%) return on a bad debt.
      They have only "written it off" in Balance sheet terms.

      They still hold the paper that may, or may not, be worth that 10% so will be quids in if it is worth more.

      This is tax move. You create the loss in a bad year to save some tax in that year. But if the money does come in when times are better, you pay the extra tax out of a good year's results.

      tim

      Comment


        #4
        Originally posted by zeitghost
        Meanwhile entire suburbs in various parts of the States are turned into ghost towns... rapidly become fit only for demolition.
        Ah, San Diego has a solution. Reuters: San Diego sues Bank of America to halt foreclosures

        Glad it's not our taxes paying for that one.
        How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

        Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
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        "We hang the petty thieves and appoint the great ones to high office" - Aesop

        Comment


          #5
          Originally posted by zeitghost
          Meanwhile entire suburbs in various parts of the States are turned into ghost towns... rapidly become fit only for demolition.
          Like Manchester ?
          Confusion is a natural state of being

          Comment


            #6
            Originally posted by Diver View Post
            Like Manchester ?
            I'm hoping you are just talking about the Utd footie ground.
            If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

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