Who owns your bank deposits?

[Tyler Durden]

stewie, I'm not sure I'd have any expectation of the government ever actually meeting that commitment were one of our major banks to fall over.

Agree. Not unlike the government to break a promise.

 

[MrBurns]

Ya think? The banks aren't that big that they couldn't be saved, unlike Cyprus.

There's no way they could be saved, if one bank looked shaky every bank would have a run on them, it would be catastrophic.

 

[ROE]

too much fear fear sells
here is some figure....if our big 4 failed the lot of them, the government is up for
650 Billion in depositor guarantee , but that is worse case scenario as in they cant salvage any of the asset...

I say they be up for around 150-200bn

200bn ins't too big for a country like Australia hell right now under Gillard we racked
up 150bn in debt already so voting labor is like bailing out our big 4 already

so that put the figure into perspective

 

[stewiejp]

..... is anyone going to rush to the banks on tuesday and close all their accounts?

should I be worried? is the sky falling?

 

[againsthegrain]

..... is anyone going to rush to the banks on tuesday and close all their accounts?

should I be worried? is the sky falling?

They would probably dip into super first, I'd rather give up my scam super rather then savings

 

[Garpal Gumnut]

The only safe place for cash, as Malcolm Fraser famously said, when a Labor government comes to power, is under your bed.

Any bank can go bust, and the ALP is doing it's darnest to send the whole country bust.

gg

 

[McLovin]

I say they be up for around 150-200bn

200bn ins't too big for a country like Australia hell right now under Gillard we racked
up 150bn in debt already so voting labor is like bailing out our big 4 already

so that put the figure into perspective

I reckon it would be closer to 10% of that. Citi cost the US government $45b to bailout and they had a much larger asset base than the largest AU bank. They also made a $12b profit on that bailout.

 

[Ves]

I reckon it would be closer to 10% of that. Citi cost the US government $45b to bailout and they had a much larger asset base than the largest AU bank. They also made a $12b profit on that bailout.

I'm sure the government could find something to sell to big foreign institutional investors like we do with everything else!