Pillars Of The Economy


Don’t you just love Australian banks (see chart), I’ll have to find some income statistics for the executives and compare how much they made while shareholder value was being destroyed at a rate unprecendented since the 1929 depression and probably in the history of the nation. Meanwhile the reserve bank says it will get better soon, I doubt it will improve before 2010.

One comment

  1. It is not just Australian banks. The situation is far worse in the US. Take a look at a two year chart of Citigroup, Bank of America, Wachovia or Washington Mutual (oh sorry last two no longer exist). Apart from Wells Fargo and US Bank, most of the big banks here are down 90% over the last two years and many are down 100%. Give me a 60% loss any day….

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