The Dow took a big hit overnight. Ok. Our market will respond accordingly, but should it? The reform of the US banking system, while problematic, is limited to the US on-shore banks. If anything (and big IF the reforms go through) which I doubt, the US banks may look offshore to other banks to progress their merchant bank activities. Australian banks may obviously benefit. I don't own any banks, though have bought IFL for the takeover play. Which because of events overnight looks more promising
The Dow took a big hit overnight. Ok. Our market will respond...
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