interest rates at normal levels, page-10

I have read a couple of reports that the Commonwealth Bank only need 6/7% of their housing loans to go bad for the bank to also go!

Now 6% to 7% of the CBA loans is a large number because CBA loans represents about half of the housing loan market but I do not believe that our banks are as secure as we are being told

As we only have the 4 major banks in Aus they are in no way a comparison to the USA problems where bank failures already are to this point (Aug) higher than last years figure
Also if one of our majors was to go belly up there would be a scamble from the o/seas bankes to snatch it up

Once again it's hard separating fact from fiction.