Ugly bank futures and dark days for NAB

[ManlyBacker]

The huge drop in profit by Suncorp-Metway shows that all is not well with banks. I can see a major clean-out of middle tiers to cut costs. They just can't afford to drop front-lone staff numbers. What they should consider is employing the big accounting firms to set up and run and independantly manage the checks and controls on areas like forex trading, take-over due diligence and loan approvals, the areas where big dollars can be lost.

 

[Matabele]

The huge drop in profit by Suncorp-Metway shows that all is not well with banks. I can see a major clean-out of middle tiers to cut costs. They just can't afford to drop front-lone staff numbers. What they should consider is employing the big accounting firms to set up and run and independantly manage the checks and controls on areas like forex trading, take-over due diligence and loan approvals, the areas where big dollars can be lost.

If they clear out their middle management they won't need to watch the Forex stuff.  Most of that comes about from having incompetent people who are bored stiff.