INVESTOR’S NOTEBOOK: The Bankorp facts
As pressure mounts for every detail of the Bankorp lifeboat to be revealed, the logical conclusion must be to have public access to the entire workings of the Reserve Bank
There are long-running stories and then there is the Bankorp lifeboat saga. I did not expect to see a picture of the late state president, PW Botha, in the most recent edition of the Sunday Times. It is more than 30 years since the Reserve Bank, with the approval of the Botha regime, began to support Bankorp, providing it with the first of several cash injections. The Bankorp lifeboat has attracted far more attention over the years than the more systemically significant Nedbank bailout in 1985. But the Bankorp lifeboat had a Shakespearean parade of villains — or, if you like, the apartheid version of Twilight of the Gods. Have the details of the Nedbank bailout been revealed in their entirety? I’m not even sure if the details of the 2004 Nedbank bailout have been exposed in total. As pressure mounts for every detail of the Bankorp lifeboat to be revealed, the logical conclusion must be to have public access to the entire workings of the Reserve Bank. Perhaps we should be demanding r...
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