By the time the Commonwealth Bank (CBA) finally went bankrupt in September, the Government had already introduced legislation to force the CBA to re-evaluate its long-standing policy of subsidising the retail sector.
The bill, introduced by the Treasurer Michael McCormack, was a major victory for the Opposition and a victory for those Australians who have been suffering the impact of the recession.
It was a significant victory for many Australian consumers and it was a victory to the banking industry, which was forced to look at its long standing policy of providing a massive amount of taxpayer support for retail banking.
So what is the real story of the financial crisis and how did it end up so disastrous for the Australian economy?
In the end, the banking system is not a single entity, but a network of banks, credit unions, brokers and other institutions all working together to make loans and deposit deposits, as well as to make payments to each other.
That is why it is so hard for a single institution to do the job of making a loan and making a deposit in the same time.
And what is so special about a bank?
It’s a financial institution, and not just any financial institution.
It’s a big institution, with a lot of power, which has a lot more influence on how the economy works.
And the more power that a big bank has, the more influence it has on the economy.
So, it is no coincidence that the financial system was in such a mess after the banks went bankrupt.
There was a massive crisis at the beginning of the year, and the Government knew that there was going to be a huge amount of instability in the banking world.
It took a long time to get out of the mess.
After the financial markets started to recover in early February, the banks were reopening, and in early March, the Australian dollar started to rise, which meant that the Government was faced with another crisis.
At the time, the Reserve Bank of Australia (RBA) was predicting that the Federal Government would need $1.5 trillion of additional funding to avoid the next crisis.
But the Reserve’s forecast was not just wrong, it was extremely optimistic.
What did the Government do?
The Government responded by taking unprecedented steps to ensure that the Australian financial system remained in a state of near-perfect health, which it achieved with the introduction of the Banking Stability Fund.
But the RBA did not just take that step, it also used its control over the Reserve to force a massive change in the way the Australian banking system operated.
As a result, the RBC’s ability to make its loans to the banks was severely curtailed.
So, the impact was immediate and it had a huge impact on the Australian currency.
Since then, the bank’s ability and ability to lend to the Australian market has been significantly reduced.
This led to a lot fewer Australians being able to make deposits and withdrawals from their savings accounts, which led to the economy slowing down and it ultimately caused the collapse of the economy in a lot the same way that the banking crisis had caused the economy to collapse in the first place.
When was the financial sector in crisis?
The crisis began in late 2008, and for the first time in its history, the financial services sector of the Australian society experienced a financial crisis.
The Federal Government responded to this crisis by introducing a package of reforms that were meant to make the Australian system even more stable.
The changes were designed to ensure the integrity of the banking and credit system and to allow banks to provide a higher level of support to the community in the form of loans and other financial services.
The changes were implemented in stages.
First, in February, 2009, the Federal Reserve raised the threshold for the Reserve Banks to issue money to the financial institutions in Australia, allowing the RBS to be given the ability to issue more money without needing to rely on the Reserve.
Second, in March, 2010, the first Reserve Bank was required to set up a capital account, so that the Reserve could make loans to banks, which were then allowed to make additional deposits and loans, without having to rely solely on the Federal government.
Third, in June, 2010 the Reserve was required by the Federal Treasury to allow a bank to borrow money to pay for a loan to another bank, which the bank then needed to repay, in return for a portion of the loan being converted into Australian dollars.
Fourth, in November, 2010 a special fund was created to provide financial support to retail and commercial banking institutions, which enabled the RBB to buy more assets from banks, and then loan those assets to the retail and business sectors of the market, allowing them to become more competitive and therefore more profitable.
Fifth, in December, 2010 another new rule, the Financial Stability Fund, was introduced to allow the RAB to borrow more money, which allowed the RDB to buy additional assets from the banks and to use them for lending