most of us knew that was a load of rubbish...and the other banks around the world have zero interest rates....so the story did not gel....our rates are higher than any other country... oh I also heard our banks borrow short term on the money market say 3 months, against a housing loan of 30 years... does that sound sane...or insane
our only 4 banks have massive home loans on their books,,,,,earning them stacks of monthly income....
no worries if any of the owners default....our govnuts will bnail them out... its a win win situation for the banks
so the pm is scolding the banks today.....no one is listening....there are no repercussions for the banks... its like a maddoff scheme....but no one goes to jail in this scheme
