Quote Originally Posted by macduffy View Post
Now, isn't that a bit unfair, Balance?

Cast our minds back. The Australian and New Zealand govts were guaranteeing bank deposits to ensure that the system didn't collapse through a loss of confidence. Not to extend that guarantee to finance companies would have meant the certain end to their ability to raise funds and fini for the lot of them, and their depositors.
Of course, there are still big problems to work out between now and the end of October, 2010. or to extend the guarantee.

Australian guarantee does not extend to their finance companies. Only to banks, building societies and credit unions directly supervised.