Times are tough all over

Aliantha · 10-09-2008, 08:05 PM

The cost of money is higher for us now. That's one problem. If we want to borrow it costs more. Our big banks generally are fairly strong though. A couple of our smaller ones have been a bit wobbly because of their ties to the US, but in general, so far so good for Australian banks. I can't tell you exactly what's making them stable, but we've had no big banks even look like folding, as opposed to those from larger economies.

This is a good thing for Australians. At least there is that stability.

10-09-2008, 08:05 PM	#11
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	The cost of money is higher for us now. That's one problem. If we want to borrow it costs more. Our big banks generally are fairly strong though. A couple of our smaller ones have been a bit wobbly because of their ties to the US, but in general, so far so good for Australian banks. I can't tell you exactly what's making them stable, but we've had no big banks even look like folding, as opposed to those from larger economies. This is a good thing for Australians. At least there is that stability. __________________ Kind words are the music of the world. F. W. Faber

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