View Full Version : Oz beats the sub-prime crash

The Bigfella
05-16-2008, 05:42 AM
The Reserve Bank believes Australia's securitisation market could start to open again after the prolonged credit freeze as confidence returns to the global debt markets.

Dr Guy Debelle, the bank's assistant governor, told an Adelaide conference today that activity was starting to return after the markets ground to a halt, particularly for residential-mortgaged backed securities.

In a bid to ensure capital markets did not close completely, the RBA was one of the first central banks in the world to widen their ''repo agreements'' to include residential-mortgage backed securities (RMBS) late last year.....

Dr Debelle told a mortgages conference in Adelaide that while the Australian mortgage market was different to the US, the economy had been shielded from most of the fallout.

The greatest damage to have occurred in Australia, he said, was the higher funding costs that banks and non-bank lenders have faced in securing short-term financing.


Isn't it nice to know things are on the up and up and we can all be happy again.

05-16-2008, 05:45 AM
I think when the city is burning and smoke is all around you having the fire chief say its under control isn't so reassuring.

Nice try though.:rolleyes:

05-16-2008, 06:02 AM
World economy on thin ice - U.N.


The Bigfella
05-16-2008, 06:49 AM
When did you say it would be all over by? Summer wasn't it? So by the end of August eh?

The Bigfella
05-16-2008, 06:53 AM
The last remaining members of a Russian cult who had barricaded themselves inside a cave, waiting for the end of the world, have come out.

Its OK Mark - you can come out now.


Duncan Gibbs
05-16-2008, 06:57 AM
Ya know that you two are very entertaining! :D

Keep going gents!

The Bigfella
05-16-2008, 06:59 AM
Yin and Yang eh?


Duncan Gibbs
05-16-2008, 07:02 AM
Nah! Just Ian and Mark!! There could be a TV show here ya know!! :D

Duncan Gibbs
05-16-2008, 07:03 AM
Movie reviews perhaps!! :D:D