Anglo - 'this bank is dead'?

Duke of Marmalade said:
...The thing that baffles me in all this is that PWC seem to support the line that Anglo is perfectly sound.
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I presume that they examined the loan book.

As a non-specialist with only a passing interest, I don't know what the lending mix is like. How well is it known to those who have a real wish or need to know?
 
Duke of Marmalade said:
I can't find any commentator who sees any merit in the Anglo bail out. Alan Ruddock argues in the Sindo that it is not too late to change its mind. Surely with the share price tanking towards zero post the bail-out announcement it is appropriate for a U-turn.

The thing that baffles me in all this is that PWC seem to support the line that Anglo is perfectly sound.
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Commentators? Bad news sells. Always has and always will. If they cant find bad news they make it up or twist things. The media also suffer from the same herd mentality that most analysts suffer from. Even if some commentators think anglos problems are not as bad as the market thinks they arent going to risk saying so.

Pwc have said the loan book is fine. Then the loan book in my mind is fine. The market in the short term doesnt believe it, but as ever Mr.Market is totally irrational at the moment.
 
Padraigb said:
As a non-specialist with only a passing interest, I don't know what the lending mix is like. How well is it known to those who have a real wish or need to know?
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padraig..have a look at the most recent webcast. It's gone through in detail by the company directors. Its also easy to understand.
 
Padraigb said:
Thanks for the suggestion, smiley -- but how/where do I find it?
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It's okay: I found it and watched it. Informative.

There was little to indicate that there were big problems ahead, but it was interesting to note investor concern about the borrower base not being widened. With hindsight, one might ask if the bank became overdependent on a relatively small number of big customers.

I don't know if the sector breakdown of the loan book makes anybody any wiser.
 
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