Re: Short Sellers allowed back today...

[[EMAIL PROTECTED]]

Lone Wolf wrote:
<snip>
> It is
> estimated Australia's four major banks, have $13.8 trillion sub-prime
> loan investments. Even if only 1% of these loans default it will wipe
> out the Australian banking sector, as it has in Iceland.
>
<snip>

Hmmm, let's see... 13.8 trillion divided by the population of
Australian (21 million) is around $620,000 for every person in the
country. You're kidding, right?

According to the Reserve Bank of Australia (RBA), the five major banks
currently have a total exposure of around $3.1 billion dollars to bad
debts including sub-prime loan investments. That's 4000 times less
than the figure you quoted.




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