Are we really all that surprised that a few days after announcing that they would give 12 months leniency to home loan customers who have been laid off, the big 4 decide not to pass on the interest rate cut in full / at all?
Am I the only one who sees a connection here?
Are the rest of us to subsidise this generous and uncharacteristically philanthropical action of the big 4 by paying higher interest rates? And Kruddy is going to collect the kudos while we foot the bill?
Protecting those home owners who have been laid off ultimately protects the banks own interests, anyway, by helping to cushion the effect on property values of increased unemployment. The opportunity that so many have been waiting for is placed in jeoporady by these policies that continue to prevent the free market from adjusting.
S
Wealth, greed and power is an insiduos desease that you can not turn back on once it gets in there brain. They liken it to being a Cocaine junkie and no junkie gives a damn as long as they are satisfied with there fix.
I hope house prices go down down down. This will help people wanting to buy in again after the banks knock them around.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
