oversold, page-9

Much depends on whats meant locally as sub prime which as American (US) term for lower grade securities. Thats a defence they have been using here when questioned about exposure to the lower quality mortgage security acquired by banks.

We need government action. Whats been happening and what will happen with the 4 pillars is that government bail outs will occur again. Executives will again walk out scott free with their million dollar payouts and bonuses at taxpayers expense.

I once more make that statement that at least one off the 4 pillars has a hole so big Paul Keating may have been right in that statement he made from the protection of Parliament in the 1990s'. Only difference is that he got the wrong bank.