Australian sub prime mortgage market.

Pat Cash is Bernard King ???????

 

I just rolled over a deposit for another 90 days.

I'm sure it will be OK.

 

As I said I'm sure, Crudd is in control.

Oh hang on a minute its ok, ooops no Swan is Treasurer.

 

Post pictures of you sleeping in a big pile of it

 

http://au.youtube.com/watch?v=OFp4rI-EvfY

Ciao,

M

 

What do you reckon's gunna happen?
http://www.abc.net.au/news/stories/2008/10/17/2394681.htm?section=business

 

Gee, you're keeping an eye on local affairs....
IMHO, if the US government steps in to save Ford & GM, then you will see the Aussie government do the same locally for a variety of reasons.
Also, imports just got a lot more expensive again in Australia, and Ford is planning to build a small car in Australia so they are belatedly heading down the right path. Ford's big cars platforms ( Territory and Falcon ) should be exported, they are both relatively good cars in their own right (flame suit on ) and probably better than equivalent Ford models worldwide.

M

 

Lets hope it doesn't get that bad.

If this were to happen do think that would set a precedent going forward? Who then decides which company should be baled out by the public.

 

Precedent has already been set overseas with banks being bought by governments. If it was necessary here, they would do it.
In the context of Ford, if the US govt bails them out, and was planning to close the Aussie operation, then the Aussie government would have little choice but to help the Australian operation.

Politicians would decide.
Depends on if it is in a marginal electorate, number of people affected, how strong the union is, the cost of the bailout, risk of related subsequent business failures, strategic risk for the nation, potential election mileage to the government and if it's necessary to symbolically show confidence in the Aussie economy.

M

 

I guess where I was coming from is where does it end. Do they bail out the suppliers as well. And what if some it is due to bad management and strategic decisions? Why should the tax payer fund that. I know, it's employment and votes as you say.

 

State govt.s have had Toyota etc lining up for their wack each budget, or "we'll be unable to keep the plant open", for years.

 

Good points all -

Modeler just touched on something re Toyota - but, Toyota can export, whereas Ford OZ cannot [why?] - how much of a difference does this make to the handout equation?

 

Never say never...

 

*Looks at Hot Wheels* - nope!

 

It's a sanctuary...
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Must be an internal Ford decision - AFAIK the Falcon/Territory platforms are RHD only, and the main market for large RWD cars is going to want LHD cars.

M