Comments
From: Economic Governance
  • Justin . # . 1/1
    "only Macquarie Bank and a couple of others IIRC were up to their necks in it"

    Nope, that's incorrect if I recall. Macquarie in particular had zero subprime exposure and some of the retail banks had indirect exposure, but nothing like the US banks.
    • cam . # .
      This was the map I was trying to recall from memory.

      The three red dots on the Australian continent are Macquarie Bank, Absolute Capital and Basis Capital (Hedge fund).

      The map just says they were losers, doesn't go into how much or why.
      'Sworn to no party, and of no sect am I.' Frederick Vosper's republican motto.
      • adam . # . 1/1
        RAMS was also part of the fallout, for the same reason as Northern Rock - they were funding mortgages using CDO-like instruments.
        Give me utilitiy or give me something slightly better!
    • cam . # .
      Note: Updated the sentence that caused confusion with a link to the subprime lending map exposure.
      'Sworn to no party, and of no sect am I.' Frederick Vosper's republican motto.