Maybe. But I fail to see how they could have done any proper due diligence on this deal given the timing of it. Time will tell I suppose.
RE: Big Bank Gets Bailed... In
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Big Bank Gets Bailed... In
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Sounds like back-room, handshake deals with someone who would "guarantee" to cover their losses. (cough... government!) No sane and responsible company would take on that much risk without someone covering the downside (or threatening them). Oh wait... financial industry... sane and responsible, I see the disconnect now!
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@bhp Exactly. It's not like banks are known for being trustworthy and responsible.
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well, you can tell when your competitor is not doing well and you can plan ahead on absorbing them and calculating the risk. they are banks, for gods sake. that's what they do for a living hehe.
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