There has been much activity on the hush to shore up Australian banks.
RBA keep pumping $$$, government knows that most of handouts will most likely end up with them as well with debt ratio being so high, and of course the guarantees.
All the US & EU noise has also been about one thing only: avoiding bank failures.
Nobody is interested in who is guilty, who sold toxic securities, who bought them and why etc etc.
GM has been going down for 10 yrs, and does'nt really have much to do with the whole subprime, but makes a nice diversion.
The FED is not only saving the reserve bank cartel, but executing payback for those who did'nt tow the line.
some good points. They are building one heck of a war chest - I am told to prop up the commercial sector should they need it. The banks have too much at stake to see a large drop in commercial values.