IN THE biggest bank failure in United States history, Washington Mutual Inc has collapsed under the weight of its enormous bad bets on the mortgage market.
MORE than one in four Australian borrowers expect to struggle with mortgage repayments in the next year, and rising interest rates are their biggest concern.
THE interest rate squeeze on consumer spending and a rising level of provisions for corporate bad debts is likely to result in ANZ's 2008 profits falling well below $4 billion after sour loans ate heavily into its half-year earnings.