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Bankrupt and insolvent arent the same.............one is a cashflow issue , the other is an asset issue. While I hear what you are saying, the best example of my comment is perhaps the old RAMS, now RHG. Most of the banks have other income streams and arent as exposed to JUST mortgage...

both cba and wbc might breal lock step ANZ and NAB less likely Id rather a solvent lender with a slightly higher rate, than a lender that cant pay its dues ...................they will generally only break step if they feel they need to ta rolf