When the financial crisis first hit, the banks cried wolf and governments globally ran to their aid with taxpayer money to guarantee their deposits. The reserve bank cut the OCR to help keep the recession at bay. The latest move by the CBA and it appears the other majors will follow by raising fixed and possibly variable home mortgages is nothing short of a greedy F@#king Disgrace. The OCR has remained at 3.5% for sometime with no prompts from the RBA that they intend to raise it, as they are not convinced the recession is at its end.
GREED GREED GREED, is this not what landed us in the poop in the first place. I guess the rate hikes are needed though. The CEO's still need the tens of millions of dollars they receive in salaries and bonuses.
What has been the Kevinators response? "Fair suck of the sauce bottle bank wanky poo's, would you be good chaps and not do that. I am disappointed"
He might as well fart in a jar. Asking nicely is appealing to a sense of morality, and banks don't have one. Serious action needs to be taken to curb their greed, after all when a private citizen holds up a servo with a sawn off shotty they face the full force of the law. What the CBA, NAB et al are doing is not much different.
To those responsible for these recent gluttonous decisions, may the seeds of your loins be fruitful in the belly of your women
Boomshanka
Bezos on endorsements
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Jeff Bezos writes: In the annual public surveys about trust and reputation,
journalists and the media have regularly fallen near the very bottom, often
j...
2 hours ago
"Darling Facist Bully-Boys..."
ReplyDelete"You Bastard(s)".
You think the Aussie banks are bad, spare a thought for Kiwibank. Set up by the Socialist Party of New Zealand to "keep the bastards honest", since day 1 they've kept their rates at a cozy 0.5% below those of the big aussie bastards. They are, theoretically anyway (using only maths as my evidence), creaming even more than the aussie banks because they're government funded and can piggyback the government's credit rating for their borrowing; thus borrowing a significantly lower rates than full commercial offerings..