The Thieving Banks of Oz
by Fagin Friday, Nov 12 2010, 8:54pm
national / miscellaneous / opinion/analysis
Following the announcement by the four major Oz banks that their mortgage interest rates would exceed the rate set by the Reserve Bank it may be high time to put an end to the downright unfair and exploitative practices of the GREEDY, AMORAL Banks of Australia.
In difficult global economic circumstances the big four Oz Banks all returned HUGE profits averaging $5 billion each – those profits in a nation of only 20 million people! That is, for the slow among us, approximately 20 billion dollars profit shared among four (only) Banks!
To ask the average citizen whether the Banks are justified in increasing their rates is begging for one on the chin; but to listen to the urine commentary from the mass media and endure the verbal diahorrea that squirts from the mouths of our lying, bought politicians -- trying to score political points from the extortionate situation -- is even more disturbing when the solution is so simple and obvious. It should not be forgotten that both major political parties receive millions of dollars in donations from the Banks.
So, it’s probably time to ask our Banks to earn a living as they once did before DEREGULATION and PARASITIC fee structures were introduced.
It was only a few decades back that the treasonous Hawke-Keating government deregulated our banking sector and surrendered control of our currency, which allowed for the wholesale rip-off of the population and our nation's resources!
For the two hundred years, prior to deregulation our Banks earned a very healthy living using other people’s money, which they lent at much higher rates than they gave to depositors – a ‘no lose’ situation in any language.
But that situation wasn’t good enough for the new generation of economic parasites and paper shuffling rogues whose greed knew no bounds. Like their Wall Street counterparts they drew NO LIMIT on their EXPLOITATION, THEFT, and FRAUD.
It was time to buy our politicians and implement a debt slavery social economic model, which they accomplished by increasing prices while reducing or maintaining relatively low wages. However, we lost our independent counterbalances and regulatory authorities, which traditionally prevented financial debacles and economic catastrophes like the one the world is now experiencing!
Without any real constraints, every deregulated Banking Pig went for the trough at speed and gobbled everything to be had and when the trough was bare the Banking and Financial sectors created tradeable products (subprime, derivatives, etc) which they dissected and sliced so nothing could be effectively traced and no responsibility would be shouldered by any one institution – ‘how’s dem apples?’
The result of course is global economic ruin and the depressed economy in which we now find ourselves. It is in this current, harsh environment that the bloated, PARASITIC Oz banks wish to continue to exploit the public with heinous, UNFAIR, fee structures and exorbitant interest rates.
Well, if Oz Banks survived happily for two hundred years WITHOUT parasitic fee structures, they can do it again – EARN A LIVING, you reprehensible, thieving, PARASITES!
The message and solution is clear, R-E-G-U-L-A-T-E and/or nationalise! How’s dem apples, banksters?