The total amount which must now be written off by the bansk is...

The total amount which must now be written off by the bansk is in excess of $10 billion. Thats a conservative estimate.

In addition to this amount there is an additional amount almost double that figure totalling $19 billion which the non banking financial sector must also write off.

There is a take over in the wings. The problem here is that it was originally intended that there would not be a big announcement heralding the event till the St. george Westpac merger was complete.

The other problem is that if the one I am speculating about goes ahead. (speculating is my word for it), the St. george and Westpac take over could come undone or become seriously mired in regulatory inquiries over the treatment and the disclosures of write downs, losses and write offs that may have not been disclosed the way it should have been.

Take your banking stocks and examine them closely.

We are in serious trouble and Treasury in Canberra knew of the problem during the Howard years. They kept quiet about it. Costello wants to be head og the coalition?