Why don't we just raise the personal tax rate to 50c in the dollar so the government can bail out all the resource companies that are in trouble? Then raise it another 25c because the non resource companies that are going bust on a daily basis want in on the act? What makes GBG more important than all the other companies that are closing their doors? From my recollection the Govt only guaranteed peoples deposits in the banks and did not give them any money. I think our banks got cheap money from the US Federal reserve because they could and not because they were desperate for it. Even so, there is good reason why a govt would not want their four pillar banks to fold. That being that their failure would send Aust into another great depression. GBG's failure would be insignificant compared to a four pillar banks failure. Again, what makes GBG more deserving than AGO, BCI, FMG etc? If there is to be bailing out then it is up to the WA govt and I suspect they would only contemplate such if the future royalties were significantly greater than the bail out costs. A federal Govt selectively supporting one business over another would be un-electable come the next election.
GBG Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
