Funny that. I am sure the Bankers encouraged the Greeks to spend and guess who is telling them not to spend now all with no accountability. Ultimately the consumer is to blame but the bankers need to get back to what is good for the customer ie a social resp.
This time round the Oz banks are managing their foreclosures very well. If you do enough searching , in Perth my area, see a house empty and going to auction, and you get to know which banks favour which real estate agents you get a pretty good idea what is a foreclosure. Perth is not really auction territory with anything that is not premium.
One eastern states outfit will only allow in window advertising at agent in the area of the house to restrain the drop in values. Pretty well managed to stem any unnecessary losses.
