It is as bad if not worse in the other banks. Now some banks in Australia are bundling up 30 year Low Dock mortgage loans and selling them.
These are the same derivatives that caused the GFC except when this lot goes sour it will be worse.
Australia's debt fix
These derivative trades could solve Australia's debt. If they put just 0.5% on each trade it would rake in 100's of billions in the next five years and this would not hurt the banks but may well curb the out of control derivatives trading.
PREDICTION It wont go sour until Abbott brings in Bail in Laws after the G20 Summit. Then lookout if you have money in any account owned by a bank and Im thinking that means Etrade and other bank owned trading accounts.
