Im sure you all thought the sub prime would not effect australia, and now you are seeing the fallout. They also tell us that australian banks are conservative and well prepared for any downturn. Who is telling us this? The media!!! I am sure our banks are not as stupid as the US but the best case scenario is a loss of 10 billion and i believe that has the scope to double to around 25 billion
australian banks to loose 10 and 25 billion
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