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Why do they need to apologise? Well, two years after the global financial markets collapsed, a secret bailout of two of Australia’s biggest banks has been revealed. This is pretty big news. Or rather, you’d think it would be pretty big news. But as you can imagine there’s almost uniform silence from the banks and the mainstream press.
Originally posted by surrealist
I'm with Commonwealth and Commonwealth replaced the bailout with raising interest rates on borrowings over and above all the other banks. I'm really not overly surprised to hear this information, honestly, its all so corrupted. The CEOs of those banks have still been getting paid their big bonuses.
Originally posted by zvezdar
That article is pretty poor really. He has assumed that NAB and Westpac were insolvent based solely on the money received without any others facts backing it up. Its more likely that both NAB and Westpac saw the chance to get some cheap funding and grabbed it.
If he wants to claim they were insolvent he will have to provide some evidence. Pretty disappointed in Sayce he is usually better than that.
EDIT: just realised that article is old, i thought it was new info but its the same as stuff i have seen before. My comment stands though, i dont believe any further evidence against NAB or Westpac has been forthcomingedit on 13-10-2011 by zvezdar because: (no reason given)