OTCPK:KATFF - Post by User
Post by
topdopon Jan 31, 2019 9:11am
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Post# 29300698
No sweat, Glencore
No sweat, Glencore
GE just announced a $1.5 billion settlement in principle with the Department of Justice for its investigation of the now defunct subprime mortgage business WMC.
A few points:
1. These sub-prime issues occurred almost 10 years ago;
2. And arguably, materially contributed to thrusting the entire world, never mind the US, into a recession, the magnitude of which nobody had seen since the 1930's.
And this is it? $1.5BB??
By keeping its KAT Royalty contracts fully compliant, Glencore are simply maintaining strategic Cobalt assests don't get taken away and given to China and people are worried about the DoJ and Glencore?
Settlement will be a slap on the wrist in monetary terms and don't expect one until we are well into the EV cycle.
These are my views only. Thanks for reading.