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Banks accused of 'gouging' while they 'bleat about the cost of funds'

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Australian Broker | 25 Feb 2013, 08:30 AM Agree 0
A newly registered political party has accused banks of "gouging" consumers while they "bleat about the cost of funds"
  • Peter | 25 Feb 2013, 10:22 AM Agree 0
    Finally someone in the media saying what we all think.
  • Keith B | 25 Feb 2013, 10:39 AM Agree 0
    This guy cannot be serious?. Built a party platiform on the back of bank bashing?

    Please there are far more important economic issues facing this country. One thing is for certain, the strength of the major banks' played a major role in minimising the impact of the GFC, at least they continued to lend unlike their counterparts in the USA & Uk.
  • NoTimeLikeTheFuture | 25 Feb 2013, 12:18 PM Agree 0
    Competition certainly shrunk post GFC. True.

    And to think we collectively underwrote Westpac as it gobbled up St George and RAMS (and CBA with Bankwest etc etc).

    We don't notice the reduced competition as rates have been falling.

    But when rates turn and start rising I think this guy will be vindicated - so I wish him the best with this venture.

    P.s. I think Supermarket competition (lack of) is a very serious matter
  • Patrick | 25 Feb 2013, 12:54 PM Agree 0
    Irrelevant, this mob will be lucky if they get enough votes to get a campaign cost subsidy, let alone win any seats.
  • SteveL | 25 Feb 2013, 03:22 PM Agree 0
    @ Keith B...what Bank did you say your work for again?
  • Broker | 27 Feb 2013, 11:49 AM Agree 0
    Still gouging our commissions too.
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