Banken maken topwinsten en keren de hoogste bonussen ooit uit.... en ze verstrekken bijna geen nieuwe leningen dat is .was. toch hun core business...HEEL VREEMD HOOR.... Mmisschien is dit een verkaring....
Today I phoned Joe Hockey’s office to talk to him about the banks and how they could easily be put in their proper place. The response I received even shocked me. I was told that the Liberal Party will not criticize a private business any business—immunity from criticism. I said the government has allowed these banks to be too large and they now have a monopoly. You (the government) are allowing them to become hedge funds and that needs to be stopped or we’ll all be in trouble. The person I spoke with then informed me that there is no difference between a banks lending money versus a bank taking an equity position in the same company. That was such a stupid statement I hung up.
The banks are taking our deposit money and leveraging it, actually leveraging isn’t even the proper word because they can create 5 times the amount of deposits out of thin air that is the franchise we have given them. So they have a franchise from the Australian people, not just the Government. That franchise allows them to create money at no cost to the bank. This money is to go to Australian businesses and mortgages and is a great business if your loans are sound and that is banking. But these banks have been allowed to behave like a hedge fund and take our money and speculate. If they win with their speculation then they pay themselves ridiculously large bonuses and if they lose we all pay higher interest rates so they can get the money back. It is a win-win for the banks and we the citizens get nothing if their speculation pays off and higher interest rates if it doesn’t. Remember these brilliant speculators owned subprime mortgages and investments in other banks some of which failed.
The banks need to be banks and if they want to be hedge funds then they should raise that money away from depositor’s money. The banks Australian business should be the primary or only focus. If they are allowed to speculate with our money they are no longer banks serving our economy. If they can move our money out of the country for speculation or investment then there is little competition within Australia. That means we the Australian people have to compete for loans versus what they can get in other countries. Australian banks need to be real Australian banks and not hedge funds. Remember the Australian banks had to be rescued by the American Federal Reserve in 2008 so don’t believe everything is just fine with this business model because it isn’t. And remember that was kept a secret from us even though the law said it must be reported. So if the banks will ot report a serious problem if they get into one the only remedy is to not let them speculate. If you want to put the banks back in the business of working for Australians then put before parliament a law that says Australian banking remains in Australia and if the banks what to take equity positions overseas or even domestically it must be done through a different corporation that is completely separate from Australian’s deposits. It is starting to look like the political parties want nothing to do with taking on the banks—why?
laring...