This week, Chanticleer discusses how Fortress Australia will resist the global banking crisis and why the bid for lithium miner Liontown is the funnest takeover fight of the year.
AdvertisementWhat happened this week was absolutely unbelievable. The damage to the credibility of the board and particularly the chairman Damian Roche ... the ASX admitted they were being investigated by ASIC for a whole range of things like false and misleading conduct. The big one that stood out was breaching suspected breaches of continuous disclosure.All the brokers have spent a lot of time and money preparing for this chess replacement system in the past few years.
It’s all about how quickly information spreads around the market. Now, when there’s a run on a bank, it can just spread like wildfire. A day or two can make all the difference in the life of the bank.While we’re having all this turmoil in global banking, the Australian banks are going at each other absolutely hell for leather. Mortgages are being written well below the cost of capital, they’re sub-economic ... and the same thing is happening in business loans.
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