Westpac Bank
As the four big banks continue to act as a law unto themselves it’s time for Wayne Swan to match the tough talk with tough action, especially in relation to our competition laws.
We have some of the weakest competition laws in the world and that’s why we’re now in this mess with the four big banks.
The simple reality is that Wayne Swan and the ACCC have allowed the four major banks to get as big as they. The ACCC and, ultimately Swan failed to stop Westpac from taking over St George and that was after years of failing to stop the four big banks from taking over the smaller banks.
Continue reading "How Swan can actually make the banks pay" »
Two weeks ago I decided to take a public stand on behalf of ordinary Australians. Home buyers, consumers and small business are sick and tired of being taken for a ride by the banks, who time and time again increase their interest rates above and beyond the official movements of the Reserve Bank.
I’ve had my critics - but if that means I’m standing up to a guy who earns $50,000 a day, while the customers who underwrite his business earn $50,000 a year – then I’ll cop it.
A strong banking sector is vital, but at the same time banks have an obligation to give something back to the community.
Continue reading "Hey Wayne, are you still laughing about bank reform?" »
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Biteme says:
Andrew, to make a NPAT of around 18% is huge. And most other companies work around 5%. Some as low as 1 or 2 %. And considering NPAT takes out all the super huge salaries, marketing, advertising, that is a greedy amount of profit. They are not just a business,… Read more »
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Biteme says:
Neither the Government of Opposition will do anything. They are one with the banks. They share information, and work in harmony to rip us off. But the common people are sounding their voice because of mediums like this and modern technology. While all people get one vote, and most people… Read more »
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