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And from the same source, non agency debt from stats published the other day from FR puts Australia at about $US34 billion. How much of this is exposure to sub prime lending, no one knows. Watch the price of gold and oil!

From Dan Denning at the Old Hat Factory: --The Asian banks have finally been heard from. So far, all the woe and wailing from the credit crisis has come from Europe and North America. But there are some pretty big banks in Japan, too. And yesterday, three of them confessed that they owned a...