Friday, November 18, 2011

Low-doc loans “a concern” to ASIC

image But apparently not to the AOFM.

The AFR today includes a piece relating to ASIC’s first review of mortgage brokers’ compliance with new responsible lending rules.

It’s stated that low-doc loans represent the area of greatest concern to the corporate regulator, which is why it makes it all the more puzzling that another arm of government, the Australian Office of Financial Management, is happy to buy these things as part of its RMBS support arrangements. Low-doc loans were certainly on their shopping list in 2010 (see Low-doc loans? Ship ‘em in!).  Is this still the case? If so, why?

Wednesday, November 16, 2011

Deutsche Bank – settling for second

More financial institution climbing inspired silliness on the front page of today’s AFR:

New Picture

I know parallax can do some strange things, but that “peak” that the brave men and/or women of Deutsche Bank have just scaled (a feat apparently accomplished by putting their clients first) is clearly lower than the one just a couple of hundred metres away.  Quitters!

As for the fine print, it reads “This advertisement has been approved and/or communicated by Deutsche Bank AG and appears as a matter of record only.”

Care factor?  A matter of record? What are they babbling about?

Speaking of babbling, there’s more weird banking/climbing stuff here and here.

Friday, November 11, 2011

EU Leaders

Given the financial catastrophes engulfing their countries, it’s interesting to note what their leaders are focussing on:

image

Search the Weatherman