Even under my worst case scenario ANZ is still well capitalized...

Even under my worst case scenario ANZ is still well capitalized with plenty of alternate sources of capital so talk of ANZ going under is silly, none of the big 4 will go under in any of our lifetimes, although we may see losses and major dividend cuts I am expecting a 1990- 92 scenario although more severe. Note the following charts on this early 90s period and how the earns and the ANZ share price fell together, this time is more severe with a probably sub $10 price a possibility, credit to GDP needs to fall to sustainable limits this will probably occur mid 2010, we are all in a world of pain till then