Back in the day, as editor of Business Day, I learnt a valuable lesson about banks in SA. It was 2002 and a liquidity crisis in the medium-sized banks was building up.
Banks look big and strong but they’re also privileged and fragile. It’s a confidence thing. In fact, more than 20 banks have either failed, vanished or been rescued here since just 1990 — remember Corpcapital Bank, Old Mutual Bank, PSG Investment Bank, African Merchant Bank, BOE Bank, Saambou and Unibank just for starters?..
So why then did you campaign for the ANC?
The other interesting point to note is the Black Business Council demanding a meeting with the Prudential Authority (Kuben Naidoo) to explain itself. What a lovely time to be Black.
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