The Australian government tried hard to revive public confidence in "non-bank lenders", but to no avail. The big banks are enjoying a bigger percentage of the lending market than before the economic troubles. The public are staying away from non-bank lenders in droves.
Why? Something to do with "mortgage backed securities" not being very popular these days.
Like many folk who lack degrees in finance, I struggle with some of the terms and phrases bandied about these days. But I think my cartoon pretty much sums up the situation.
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