Down ramping and prick in suits with degrees causing the GFC.
First, I do not intend to ever buy boq,
Second, the basic version of the cause of the GFC imo was a bunch of greedy dudes who lied about their customers loans, no ability to pay for the loan, bundles up the loans, paid S & P to rate them AAA and flogged them of. but hey, no one makes money from a flat market. all alleged of course!!
if any of you have ever spoken with a senior manager at APRA, they would have told you that at the peak of the GFC, 3 banks were about to go down, Adel Bk, sold to Bendigo, fair enough, Bankwest, apparently only CBA was resourced enough to buy it and wait for it....BOQ. Apparently it was decided that they will get in a gun...Grimshaw to fix it up...well well how did that turn out. Still got the crap OM model, some taken back, most by force, just google it.
BOQ have written a lot of crap loans through the OM model, their internal systems were changed to counter the OM managers loading crap loans.
In regards to the non degree people like you mentioned, they are very rich, and apparently pricks as well, alleged of course.
Finally, I laugh at the comments posted, especially about the degrees/non degrees stuff, seems to have touched a sensitive spot for some, no comments at all about the other stuff.
You all go buy BOQ shares, good for you, not interested in this crap stock, good luck
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Down ramping and prick in suits with degrees causing the GFC....
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