> "Mad Mike" <mcon...@yahoo.com> wrote in message
>
> news:264a4a4c-bb48-49b2-a833-15c897c93302@26g2000hsk.googlegroups.com...
> On Jul 15, 9:43 am, "The Old Bloke" <gra...@microsft.com> wrote:
>
> > I went to one of Aus largest banks today to deposit $50,000. I was turned
> > away because I didn't have an appointment to deposit money!
>
> > No wonder banks are struggling
>
> Hey....maybe the bank official was doing you a favor. Sort of a
> "special signal" to not make the deposit since it was planing on
> closing the next day...woo,woo,woo!!
> ============
>
> Hi MM, and others,
>
> My wife and I are retired and our sole income is from our savings. With the
> turmoil in banking around the world and the plunging shares (I think you
> call them stocks), I am getting a little wobbly. The Aus Gov has just
> passed a law guaranteeing "up" to $20,000 per depositor should a bank
> default. Whooppie. That would put a hole in my retirement!
>
> So we have started spreading our cash holdings through a few different banks
> till the world's financial crisis runs its course.
>
> I have been watching the Fannie Mae debacle. (Fannie is a very rude word in
> Aus, being a name of female genitals lol We piss ourselves with laughter
> when we hear people talking about their fanny bags!). If I understand
> correctly, the housing assets are now worth $300B less than the outstanding
> loans.(for the *two* banks involved). In Aus, banks are not required to
> release such financial detail. The scale will be smaller, but I am sure the
> same thing is happening here. Our 5 biggest banks have seen their share
> value halve in recent months. One has gone from $35 to $6 (Babcock)
>
> Ominously, the bulk of the money that Aussie banks lend, is in fact sourced
> from the USA, who source it from the Arabs (our petrol money!), the
> Japanese, Chinese, etc. If these latter countries turn off the money tap
> ....
>
> Regards
> Doug
Doug, I know how we can solve the disgusting name of Fannie Mae.
Vernon Balbert
Dallas
