property markt in crisis, page-46

bruce.......I don't believe the australian banks have recklessly been lending money for australian property.......in fact I think they give you a very hard time.......BUT they have been borrowing money from overseas, bundled as AAA rating, but in fact it is sub prime money............that's the problem.......
so on one hand I am happy to borrow from the banks to invest in property............but I never borrow more than 50%
on the other hand I am not happy to give the banks my money as a term deposit or the like, not in the short term, not when a bank like bear sterns can fall over.
I could be wrong...but thats my opinion on the banks..........and your money is never gauranteed by the bank...........
and to bb stocks mentioned..........rhg, cnp, mfs etc........I never touched them, understood what they were doing and never liked the big borrowing and debts, it had to fall over.........