marc,very valid points.....they are responsible to their...

marc,

very valid points.....they are responsible to their shareholders and as you rightly state, the system is significantly healthier than many other countries at present.

I laughed this morning when reading my mortgage statement, that the discharge fees have been bumped up $100 in the event of refinance.....certainly making light of that 'we reserve the right to amend at any time during the loan period'

Agree with earlier sentiments from Rebel that there is no way the banks will refinance. they are struggling to lend $10MM + at the SME level to good credits......corporates with too much debt are going to perish this year unfortunately.

2009 will be remembered as the 'year of isolvency'