oz banks staring into the abyss

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    ..Australia's banks were staring into the proverbial abyss in 2008.

    If it wasn't for secret loans from a foreign central bank, bail outs from the Australian taxpayer, and top secret back room deals between the banks and its regulator, it's likely all four of the major banks would have gone to the wall..


    http://www.moneymorning.com.au/20110107/the-banks-finally-reply.html
 
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