ctindale---you are very negative on banks,populist theory...

ctindale---you are very negative on banks,populist theory not
supported by analysts,ceos,or most investors.

as for exposure to r/e by banks,we do not have a USA or EURO
scenario on r/e ,there is no oversupply however i concede some areas are overpriced and banking models as far as valuations go are likely to become even more conservative.

the banks loan books have conservative risk spreads on r/e.

no the biggest problem i see is all the bracket creep for householders on utility and council rates all of which are outstripping the cpi by an enormous margin combined with suppressed wage increases and outlandish big spending by the current govt on carbon schemes,the nbn,inceases in medical ,power,water,council rates.

the householders who no longer have two fulltime jobs,the wage increases or bonuses that have not been forthcoming.

yes we have a society gripped with fear and suppressed by monetary control.

the speculation in the USA r/e combined with cdo exposure
are the real culprits,sadly these instruments are still not controlled risk is mitigated by conscience and the threat of legislation.

all that aside banks are being severely shorted,confidence is sliding dramatically and the biggest risk we face will be fear as people turn to cash selling their shares.

Obama had 20years on wallstreet sadly the politicians in the USA are not prepared to listen to his proposal,in fact politicians all over the developed world seem to think economic management is a popularity contest.
while i am not a holder of anz i did buy wbc on friday because it represents an almost unprecedented opportunity.

in any respect if your assertations regarding australian banks are correct then europe and the usa are basket cases,
and what will follow will be the greatest contraction on spending the world has seen--that will create poverty in Australia.

however i dont share your views,nor do i share the views on USA or European debt ultimately they will find a way if
confidence would just improve.

confidence is key the Australain market should survive and the China story will continue.

we certainly dont need fear mongers at the moment.

i expect today will see institutional support for banks,alterantively thay should seriously consider shutting the ASX for two days.