Australia: Investment Banking - Macquarie sweeps aside collapse in investor confidence

Global events and widespread fear conspired to blow out Macquarie's credit default swap rate and send its share price into a tailspin. The market verdict was that the infrastructure fund business model it pioneered was dead as rumours abounded that it would run into debt funding problems. But the bank is at pains to point out it is financially sound and is now focusing on unlisted funds. Ben Power investigates.