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>> "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:
>>
>>
>>
>> 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