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Sydney, Mar 27, 2007 (ACN Newswire) - According to the Reserve Bank, Australians appear to have their finances in good order, the banks have low levels of problem loans while, as we know, the economy is going very well.Good enough to put interest rates up next week after the April board meeting if need be.And while there are some areas where there are problems, the overwhelming story from the latest RBA look at the stability of the country's financial system is of no deep concerns.In fact when read with stats like retail sales, employment, housing finance and the national accounts, the economy and the financial system are almost in tandem.The only black mark is the unacceptably high level of foreign debt (mostly private) which is driving the current account deficit (AKA the yawning black hole).But looking at the benign commentary in the latest RBA Review (and it is no rosy coloured glasses stuff), you can well understand how retailing is doing well, the banks are doing well: why some sector are not doing well but not causing concerns.

Scrutiny and Self-Scrutiny on Loans

A community college financial aid director was at a meeting a year ago with a group of colleagues from other institutions. Over lunch, one of the aid directors "brazenly admitted to pitting one lender against another so that he could get the best NBA playoff seats." The community college official, who asked not to be named, was horrified that an aid officer would be encouraging lenders to in essence bid on his good will. Others aren’t shocked.

China and the Hedge Fund Dragon - Subprime Mortgage Market ...

This week we look at the possible latest entry into the hedge fund world, The People's Republic of China; review the cockroach principle of subprime mortgages; and investigate the possibility of whether we need more derivatives and not less than the $283 trillion or so we now have. It's a lot to cover, but it should all be interesting.