The SMH has [a] very important story this morning on the funding crisis that is bearing down on the major banks:
Australian banks are preparing for a potential freeze in global funding markets as Europe’s worsening stresses threaten to send the world’s financial markets into a tailspin. Renewed funding pressures for the big banks, which need to raise $16.3 billion over the next two months, are likely to make it tougher for business and some consumers to access credit.
via The credit crunch is coming – macrobusiness.com.au | macrobusiness.com.au.