Having to pay 24% on a substantial (for back then) overdraft...

Having to pay 24% on a substantial (for back then) overdraft certainly made me bleed, but this thread brought back some other distant memories.....how one would have expected banks to have been rolling in dough in those times, yet Westpac & ANZ were both "troubled", to say the least. Obviously Bank controls were not as rigid back then, and Westpac was technically insolvent briefly & knocked off $600 mill from their employees superannuation fund to stay afloat....

Makes me wonder how the greedy banks are REALLY faring at the moment.......remember, derivatives, cdo's dont appear on balance sheets.....and I find it strange that Australian banks alone were unaffected by Wall St toxic waste....

GZ