Ctindale, as you know I read Jim Sinclair.
But I'm pretty confident compared to the US banks are majors are much, much better off.
For starters they were not involved in heaps of sub prime lending in the Australian property market.
The Australian property market, while prices are starting to decline, is also in nowhere near the dire straights of the US market with mortgage defaults and large numbers of borrowers with outstanding loans below the current value of their properties etc.
safe as a bank ..., page-6
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