With such a crazy amount of debt wrapped up in property, unprecedented house price increases and now this every increasing push to take on more debt. Cost of living sky rocketing and wages going no-where. What chance we just delayed the sub-prime morgate / GFC crisis? Just how regulated are our big four and by who? Why does the cynic in me think they are regulated the same way the US banks were, in a revolving door system of insiders. I certainly hope none of this is the case but as the LEH chart pre-collapse shows.... there was no bad debt problem, until there was a problem.
