CBA shares $4bn in lost growth due to CommInsure Scandal

Discussion in 'Stocks & Derivatives' started by AustralianAustrian, Mar 15, 2016.

  1. AustralianAustrian

    AustralianAustrian Active Member

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    AustralianAustrian, Mar 15, 2016
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  2. Miloman

    Miloman Active Member Silver Stacker

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    Yep, CBA and their customers are very very unhappy. Now their shareholders are also unhappy.

    Extremely bad culture at CBA.
     
    Miloman, Mar 15, 2016
    #2
  3. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    I left the Commbank after 30-odd years with them over this.
    Nobody batted an eyelid or asked me why when I shut down my accounts.
     
    Clawhammer, Mar 15, 2016
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  4. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    CBA pays for a lot of print/web advertising, I find myself wondering what compelled these media organizations to effectively turn away the CBA's business.

    No, I wouldn't attribute to flighty idealistic reason like 'journalistic integrity'.

    Here's a hint: Seen any of their major competitors, particular insurers, go on a marketing/advertising spending spree lately?
     
    Roswell Crash Survivor, Mar 15, 2016
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  5. phrenzy

    phrenzy In Memoriam - July 2017 Silver Stacker

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    All the banks are stuffed come the drop in property prices.
     
    phrenzy, Mar 15, 2016
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  6. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    Guess who will be left 'holding the bag' when that happens?

    Either the taxpayer, through a 2008-era TARP-esque bailout. Ultimately payable by the taxpayer tolled through a heavier tax burden and currency devaluation/inflation.

    That, bank depositors, through a Cyprus bail-in. Expect 'bank holidays' followed by withdrawal limits (vis a vis Greece 2015) possibly followed by Cyprus-style expropriation (bank robbery in reverse).

    Hell, it might even take both to fill in the hole.
     
    Roswell Crash Survivor, Mar 15, 2016
    #6

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