If only Wall Street and London had nice, sensible banks like ANZ, CBA, NAB and Westpac – they might not be in such a mess.
Australia’s four pillars are all in the elite group of only 20 banks worldwide that are still AA-rated. So shouldn’t we all be proud of our local banking heroes?
Playing it safe has meant they have comparatively little exposure to the US sub-prime market. And the tough Aussie regulatory environment has kept them away from the worst excesses of investment banking.
Why do you think the Big Four is battling the credit crunch so much better than many banks overseas? Is our banking system something other countries should be trying to copy?
And are there banana skins ahead? Would the banks’ heavy reliance on international wholesale markets top your list of potential troubles? Show your pride below.