I am not to sure how long ago it was but I will guess about12/13 years the Westpac Bank (may have been Bank of NSW then) nearly went down the gurgler, kaput, bankrupt & one of the causes was loans of around 90% of the then valuation to propery buyers. I think their share price was about $1.40 at the time. So perhaps if you care to search the archives it may be an interesting read. What have banks learned since then? Apparently not much as apparently 90% loans are all go.(previous posters)
