Ann: Becoming a substantial holder, page-31

It is good that you have posted that article as it gives a bit of perspective about how the banks are reading the crystal ball. I will not bag Morgan Stanley but instead just throw something out of left field into the arena. The RBA via the Govt have thrown a very large amount of money directly into the economy. So through whose hands will it pass - will this huge injection pass through the banks - yes it will - probably several times over as it does its job of creating "the multiplier effect? Will they derive some benefit? Of course yes but not enough to stave off the probable accounting losses which Morgan Stanley are mooting will be announced as provisions. Just a bit of musing to offset the doom being written up by some of the analysts.