Despite efforts to protect international financial structures, from the likes of that last crippling subprime impact, many of the Aussie banks are at it again.
To get around the new guides, the banks are not lending directly to the subprime market, but instead leading to people who will then in turn lend to a subprime risk. Effectively making a whole Loan company a living breathing version of that naughty super destructive debt instrument (the CDO).
Our Reserve bank will probably respond by increasing interest rates to curb the inflationary effects of this sort of slush money.
You know the kind of money I mean, the kind in the old saying, “a fool and it’s money are easily parted”.
Banks, thanks.. really
Report here.
To get around the new guides, the banks are not lending directly to the subprime market, but instead leading to people who will then in turn lend to a subprime risk. Effectively making a whole Loan company a living breathing version of that naughty super destructive debt instrument (the CDO).
Our Reserve bank will probably respond by increasing interest rates to curb the inflationary effects of this sort of slush money.
You know the kind of money I mean, the kind in the old saying, “a fool and it’s money are easily parted”.
Banks, thanks.. really
Report here.
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