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ABSA Money Market deducting funds due to African Bank
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<blockquote data-quote="user 997" data-source="post: 469369" data-attributes="member: 997"><p>Ouch, that is aimed well below the belt.</p><p></p><p>I'm sure that it wouldn't have eluded your gaze that are now a shareholder in the "bad" ABIL courtesy of the SARB using <strong>your</strong> tax money to bail them out, while shareholders will participate in the "new" ABIL with the good stuff in it and is bound to recover a lot of its losses. Meanwhile you will have to pray that the SARB can recover enough money from the "bad" loan book to recover taxpayers' money, read very unlikely. Share prices can fall, but also recover, money market funds being trimmed is permanent. The market has long since priced in that all was not well over there since 2012, though nobody expected the news to be as bad as it was last week. So what's different this week, taxpayers are now lenders of last resort like in the US and EU. Investors will have to guess which companies are too big to fail in the view of the SARB.</p></blockquote><p></p>
[QUOTE="user 997, post: 469369, member: 997"] Ouch, that is aimed well below the belt. I'm sure that it wouldn't have eluded your gaze that are now a shareholder in the "bad" ABIL courtesy of the SARB using [b]your[/b] tax money to bail them out, while shareholders will participate in the "new" ABIL with the good stuff in it and is bound to recover a lot of its losses. Meanwhile you will have to pray that the SARB can recover enough money from the "bad" loan book to recover taxpayers' money, read very unlikely. Share prices can fall, but also recover, money market funds being trimmed is permanent. The market has long since priced in that all was not well over there since 2012, though nobody expected the news to be as bad as it was last week. So what's different this week, taxpayers are now lenders of last resort like in the US and EU. Investors will have to guess which companies are too big to fail in the view of the SARB. [/QUOTE]
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ABSA Money Market deducting funds due to African Bank
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