04-10-2008, 12:39 AM
Scary Jan.
Many people in Australia at present are under the impression that governments guarantee bank deposits. This is not true. The Commonwealth Bank and other state-owned banks did carry government guarantees, but they have all been privatised and their customers lost that protection as a result.
Many people in Australia at present are under the impression that governments guarantee bank deposits. This is not true. The Commonwealth Bank and other state-owned banks did carry government guarantees, but they have all been privatised and their customers lost that protection as a result.