Look the bottom line with all this sub prime bull is that all...

Look the bottom line with all this sub prime bull is that all the fools in the financial sector bought into these mortgaged backed securities.
Now the people who took out these NINJA loans (no income,no job no assets)had buckleys of repaying there loans once US interest rates went up.
How could the NAB say that they were AAA rated give me a break... this bank is renowned for losing shareholders money, lets not forget back in 02/03 or thereabouts when they blew 6 bill and the rogue traders affair another 600 mill and various other write downs because of poor management and now another 1 bill or so Id feel like a bloody genius sitting in amongst this lot.
So now the number crunchers will have reshuffled the loses to make it look better than it is, and as for the US anyone would think that a bunch of 5th graders were in charge of the financials of the economy.. give me break!