I AM no fan of rampant consumerism as a way of running our society. Easy money got the world into its present financial mess. Having said that, the big four banks in this country seem to get away with the equivalent of daylight robbery – again and again and again.
Their margins and profits beggar belief and their excuses for outrageous fees and those margins and profits are just tiresome rubbish. Treasurer Wayne Swann encourages us to look around and shop elsewhere. Well, while the Aussie taxpayer was protecting the big four during the GFC, they were buying up most of their competitors. Perhaps the government should revisit the idea of a people’s bank to provide some competition to the big four. Wasn’t that the idea of the Commonwealth Bank when the government – that is, us – owned it?
Lachlan Beed, Kotara