Re: Australian Dollar just walked through 1.07AUD to the USD exchangerate.

Don McKenzie wrote

keithr wrote >> Tell that to ANZ bank, I went in to the local branch, where I keep >> my accounts, to buy USD200 in cash, they wanted $A198! Thats the >> sort of rate that you expect from the rip off artists at the >> airport, not your local bank. > Only reason OZ banks survived the GFC is that they are greedy.

Thats just plain wrong. They all survived the GFC because they werent allowed to do what the stupid yanks allowed theirs to do.

Same thing happened with Canada too, not one of their retail banks imploded spectularly or even needed to bailed out by govt either.

Many world banks went under, but not OZ.

Not in plenty of other places too.

Reply to
Rod Speed
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But that probably included a service charge of $15 or so - that's the way the banks generally get you with things like that.

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Reply to
Alan

accounts, to buy USD200 in cash, they wanted

airport, not your local bank.

I don't think that is true. I believe that the reason the Australian banks survived the GFC and retained their credit ratings was because they are tightly regulated. APRA even reviewed their mortgage exposure _before_ the GFC. There has been bipartisan support for this policy and successive governments have strengthened it and broadened it to include other financial institutions. Contrast this with the extremes of deregulation as evidenced in Iceland.

Reply to
Gordon Levi

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