That's because it was only leaked years later - there was no...

That's because it was only leaked years later - there was no public announcement other than coming out to say your savings were protected by the government. The govt had to step in to protect the contagion as there is no firewall as banks all traded dodgy 3rd rate loans repackaged as a sure thing between eachother which they then could lend againest to the tune of 69:1 -- hence the very real risk of a massive ledger wipe-out of Australian Banks.. not so much a run.. just billlions written down which would of had serious flow on effects in terms of liquidity meaning they would need to call in debt.. ie: mortgages.. the last thing Australian Government wanted was to risk the real estate bubble imploding which at the time was being heavily manipulated to the upside with +first home owners grant and new home owners grant.. they were fueling it to keep the illusion of growth and wealth creation.. it would of all come down like the house of cards the banking system is... so not technically a bank run.. more like a debt domino effect implosion prevented

Have a nice weekend everyone