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10:40
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Originally posted by trashcansinatra
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I remember those Cain/Kirner days well. Before Pyramid collapsed it was actually paying out higher interest rates on deposits than it was charging on loans. This was because it had no liquidity and was in the midst of a bank run. It's collapse was obvious. Jolly stupidly went on the telly telling everyone that Pyramid was 'safe'. Fact was, no business was safe in Victoria in those times.
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Jeff Kennett was given an impossible task, but he along with Treasurer Allan Stockdale did a magnificent job righting HMAS Victoria which was in grave danger of sinking to the bottom of the ocean with no survivors.
