Which bank? has stuffed up?

I freely admit I do not understand the whole of this story, but it seems that those in the know are pretty pissed off with CBA at the moment.

In a rattling embarrassment which is likely to see executive heads roll, and perhaps trigger an investigation, the Commonwealth Bank has been forced to can its $2 billion issue launched only last night.

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Amused to Debt

Now I am not a financial expert at all, and so the values here may be inaccurate, but they are the best that I can find and I think highlight what a huge problem debt is to Australia.

The total household debt in Australia is currently about $650 billion or over $32,000 per person. In 1992, the ratio of household debt to income was 56%, in 2002 it was 125%. It is now over 150%. Continue reading