The sub-prime fiasco rolls on reaching the shores of Australia and New Zealand as reported in The New Zealand Herald over the last few days.

On Friday the 11th January 2008 an article by Adam Bennett in the Business section of The New Zealand Herald revealed that a number of banks including the Commonwealth Bank of Australia, National Australia Bank, ANZ and Westpac have a combined exposure of $850 million to the financially wounded Countrywide Financial.

Click here to read the full article.