Actually just to elaborate a bit on MAPs posting, there is an article in today's Australian wherein Dr. Les Coleman ( lectures in finance at the Melb Uni - although that is no recommendation )lambastes the Australian banks for increasing their margins by stealth." This has allowed the banks to quietly make higher provisions to cover anticipated loses." Therefore although my opinion is they are just going about banking in the normal manner; over periods of time they have their highs & lows and make provisions for rainy days, Dr. Coleman's article left me with the impression he thinks they should be more controlled for the national good. I believe that interference by govt.is what brought on the calamitous meltdown being experienced by a lot of overseas banks at the moment, together with "mark to market" Just an opinion.
BANKS Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
