three banks with dead property loans

I make a forecast (prediction to some) that Westpac, ANZ and the Commonwealth bank are carrying very large non performing property loans on their books many of which will not stand up to scrutiny.

The property shock will come with a change of government not with this one thats been molly coddling the banks.

St. Georges and Suncorp have manageable by the standards of others but equally large dead loan books.

The prospect of changing the legislation to enforce qualification of reports by Auditors is long over due.

The word is that over $5 billion are suspect in two banks alone.