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16:25
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Originally posted by CbrMaroon:
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Narrow and dated outlook, banking is a global business. Seem to recall the Lehman Bros failure contributed towards the GFC and its misery for many. Rember the Greek banks that went under. What about the Bank of Melbourne and Bank SA, and Bankwest. As to your "too big to fail" claim for the majors, recall Westpac wobbled very badly in the 1990's and more recently ANZ spluttered during the GFC period of major financial failures.
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If banking is a global business why do we only have the Big 4? Where is JB Morgan in Australia where is CBA in America?
(20min delay)