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Major banks not 'screwing borrowers'

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Australian Broker | 04 Mar 2013, 07:00 AM Agree 0
A former RBA governor claims major banks are putting shareholders ahead of borrowers, but one economist says they're not solely to blame
  • Jerry Gibb | 04 Mar 2013, 02:01 PM Agree 0
    Good on Bernie. Banks have always screwed their clients and will continue to use any reason to protect profits over giving the consumer the full benefits of RBA cuts.
  • Edgar | 04 Mar 2013, 05:26 PM Agree 0
    What on earth is Van Onselen smoking? That sort of circular logicis qite frankly a load of manure. Unfortunately he's left a large clarifier off his claim that if the banks had passed on the full reduction the RBA wouldn't have dropped the rates as much and borrowers would still be paying the same rate [but the banks wouldn't be able to make as big a profit]. Sorry son but most Aussies could live with that rather than the feeling they're being screwed.
  • Borrower | 05 Mar 2013, 11:47 AM Agree 0
    Bernie's right. The Emperor has no clothes.
    Let the record profits and bleats about cost of funding continue...
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