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US Sub-Prime Problems Surface Down Under!

The sub-prime fiasco rolls on reaching the shores of Australia and New Zealand as reported in The New Zealand Herald over the last few days.

US Sub-Prime Problems Surface Down Under!

On Friday the 11th January 2008 an article by Adam Bennett in the Business section of The New Zealand Herald revealed that a number of banks including the Commonwealth Bank of Australia, National Australia Bank, ANZ and Westpac have a combined exposure of $850 million to the financially wounded Countrywide Financial.

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