rba governor sounded deposits warning: report, page-33

Simco,

As you said:

"The whole idea of this in the first place was to match overseas guarantees so money did not go off shore and leave Australia financial institutions cash starved and create an even bigger disaster".

Only have to look at the move by Ireland to guarantee deposits and the resulting rush to their banks away form others. Anyone that thinks the motivation was to protect mums and dads directly should think again.

MI