What a load of rubbish. Say Westpac was in dire trouble, about to fall over,...every other bank would go done as well.
The cross transactions not honoured, deals not settled, massive positions not covered on the other side,retail run on funds..... disruption large enough to destroy each of them.
Talk some sense, the RBA and government would be in there doing anything to keep system going..ie Bail out the distressed bank.
