banks/financials pulling us down, page-5

Last month the CBA and NAB raised $2 Billion each.

Now WBC raises $2.5 Billion today.

Plus, the Banks have also received several billion in support from the Reserve Bank and the Future Fund.

This has effectively dried up the Government's stimulus package with all the funds being taken out of the financial markets and put back into the bank's shaky balance sheets.

The Banks are draining up all liquidity to cover their bad lending and they are yet to face massive defaults as house prices fall and the unemployed can't pay their loans.

Our Banks are sound!