Note the words investment bank, its primary business was not lending to mums and dads. Which is why Fannie and Bernie were bailed out.
CBA is and was way larger than Lehman.
I still cannot believe people here are calculating these insane $9-$24bn fines. Have you even looked at the international fines received by other majors for what they did in the lead up and post GFC? They are a few billion tops. Also almost no one went to jail for the gfc in the USA.
Just google gfc fines banks. Stop reading MSN articles on $24bn fines. It would criple CBA, something the regulators don't want given the changes to lending rules to 'STRENGTHEN' our banks/financial system.
Although comrad shorten and the greens would love to fine the hell out of the banks to fund their spending problems #socialistrobinhood
Ann: CBA response to media reports on AUSTRAC civil proceedings, page-46
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