let us not forget the pupose of the Reserve bank's "lender of the last resort" facility!!
this was established in the Depression to protect the deposits of mums and dads who lost their life savngs in bank failures
the ANZ has flouted prudential standards
it has $11b of overseas loans of which $2b are to US telcos and power companies.
it refuses to deal upfront with regulators and did not cough up to the ATO until I exposed it on HC
it can no longer be regarded as a good citizen
should the RBA in these circumstances pull the plug on ANZ by removing "lender of the last rsort" facilities?
opinions please?
should the reserve bank pull the plug?
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