A March 25 George Lekakis column in The Herald Sun summarised the case: “Data collected by Bloomberg News shows that the default risk of Australian banks has never been higher, with Macquarie Bank emerging as one of the riskiest banking players in Asia. ... ‘Macquarie is the closest link in Australia to the problems that are afflicting Bear Stearns and other US investment banks,’ said David McDonald, of Shaw Stockbroking.”  

Couldn’t happen to nicer people. But Macquarie is not a “bank” in the normal sense, observed Executive Intelligence Review Economics Chief John Hoefle, who has made a study of Macquarie, and of similar British imperial fronts.

Macquarie Bank A Gone Bunny?