BUSTED: Banks' Fattened Margins Exposed - TheAge
- Thread starter .toe
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Not surprising...they are after profits of course....just that they lie like thieves to get it...
Same as some real estate agents then?
Would the overall margin differ from the current margin? i.e. there's no incentive to write new lending if it's going to decrease their profitability.
Then why invest,all the data vendors sell forecasts by leading "Economists"to the Banks who also employ their own"EconomistNot surprising...they are after profits of course....just that they lie like thieves to get it...
and somewhere in between the new venerable institutions they set the rates,if you don't like the system then find a broker and play the game
backwards on the Banks,the only way i got every cent back i ever paid to the "Banks"in interest back was start investing in them and walk up to the letter box a few times a year and open the div's cheques..willair..
At least there is no ambiguity in this country on where national banks stand in regards to the pseudo Govt/private equity oligopoly.
In my opinion we would have had a serious housing downturn in the GFC if all the non-bank housing lenders couldn't have dumped their market share in the Big 4's laps and scooted off for "safe harbours".
The banks/Govt took on the risk that is our housing market and now they are reaping the rewards.
The fact remains is that if the repayments become too much of a large gap, people will begin selling their investments and if it creates too much of a glut, prices will fall and the banks are not interested in that, so I don't think they have free reign here...unless they want to tip the economy into a recession.
By in large LL's and the rents they receive are based on the market. We are 'price takers'. Banks have far more power in setting and influencing the cost of money at least in the Oz context.
And yes, I want everything my way. Increasing rents and lower interest rates
. Its my party, I'll cry if I want to!By in large LL's and the rents they receive are based on the market. We are 'price takers'. Banks have far more power in setting and influencing the cost of money at least in the Oz context.
And yes, I want everything my way. Increasing rents and lower interest rates
Me too man, me too. We all want the cake, the chocolate frosting AND the strawberry on top
yeah we all aspire to be a big bank... what a dream! the thing that makes me laugh is - oh you know the capitalised value of the business is x and its only fair we get a % return on that - well it's capitalisatiuon is only so high because the profits are so fat because there is no competition and they set the price and the govt gtees their business. of course the business is valuable
Grumble grumble nationalise the railroads! Grumble grumble evil capitalists! Grumble grumble red flags for everyone!
finally got some time to read the article......
truly we are dealing with people here that are 5 short of a six pack, no wonder the left hand has no idea what the right is doing, or that a right even exists.
Dumbing a mortgage backed loan down to the same level as a 20 a month mobile plan speaks volumes.
ta
rolf
Hints also emerged that the government will take the revolutionary step of making bank account numbers as portable as mobile phone numbers, as part of its reform package next month. At the moment, the first digits of BSB numbers identify the bank and the branch in the same way as the first digits of mobile phone numbers used to identify the carrier.
If the numbers became completely portable, switching banks would become simpler.
truly we are dealing with people here that are 5 short of a six pack, no wonder the left hand has no idea what the right is doing, or that a right even exists.
Dumbing a mortgage backed loan down to the same level as a 20 a month mobile plan speaks volumes.
ta
rolf
Hints also emerged that the government will take the revolutionary step of making bank account numbers as portable as mobile phone numbers, as part of its reform package next month. At the moment, the first digits of BSB numbers identify the bank and the branch in the same way as the first digits of mobile phone numbers used to identify the carrier.
If the numbers became completely portable, switching banks would become simpler.
This is interesting tho. there is a lot that could be done to make the property industry more efficient, such as online settlements (so archaic at present)
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