Thanks for that Alpha.I suppose what I really wanted to make...

Thanks for that Alpha.
I suppose what I really wanted to make clear was that in no way were the banks "realistically" governement backed.
A lot of people dont realise this and are also in a fairy land as far as their superannuation security is concerned.
I also wonder what figure ie. cents in the dollar are actually provisioned for a bank failure/collapse.

I always felt that the incorporation of super was a golden handshake between the government and the insurance and larger fund managers. I vividly remember the newspaper headlines of Telecom employees who left during the early days of super, walking away with 6 figure super payouts for minimal input. It stunk of government sales pitch and propaganda. Maybe we are near the book balancing that never occurred in the late 80's and its all coming back to haunt us today. Who knows but I have been a full time bear for most of the last 15 years.