Time for the Big 4 to Show Their Cards

Yesterday we learned the extent of the big Aussie 4 banks exposure to Lehman Brothers. Commonwealth Bank has an exposure of less than $150m, ANZ appoximately $120m NAB less than $100m and WBC less than $10m. Those amounts are not necessarily what will be lost but the banks will proabably need to take some kind of specific provision against them.

Expect this game to continue. The banks are 'all in', they have placed their bets and now it is time to show their hands. The difference in this game though is that noone wins, some just lose less than the others. Stay tuned, their are plenty of hands yet to be played.