how safe are banks, page-81

thats right im with you moneytree.
these times remind when previous labour govts came out with similar assurances about pyrammid and the state bank of vic and we all know what happened there!

bottom line, theyve got to know more and it appears they're just trying to keep a positive spin to avoid any run on any of our majors

to date they've been pretty good with the spin, but the more they get pressed for some 'detail' on the topic AND THE LESS THEY PROVIDE IN DETAILED ASSURANCES THE MORE ONE CANNOT 'NOW' BUT THINK OTHERWISE !

memo to 'pugnacious': AAA rating, didn't S&P rate all that junk packaged cdos & swap stuff associated with the sub prime AAA?

in the current financial global cricis, ratings are pretty much meaningless until we start getting some solvency back into the financial system more importantly the banks