Banking Royal Commission
Its been so over due!
And its scope needs to be far wider than what it currently is.
I'd like to see them look deeply into false loan defaulting and collection practises.
Not just the investing side which is under the spotlight now.
I've watched some of the live proceedings, and some of the practices have been nothing short of alarming and disgusting
I was caught up in a CBA issue around 5 years ago, i wish i had this kind of help at the time.
Now they need to do something with this info, not just cast a wide brush, start pinning down individuals and hold them accountable for their actions
Its only fair on the people the banks have ruined the lives of.
This is just the tip of the iceberg and governing body assembled to keep an eye on the banks has proven to be pathetic and utterly useless.
Its also shown what a tool Barnaby Joyce is... or is that a liar? What was he trying to protect???
Some more info here:
Last edited by ol' boy; 20-04-18 at 03:56 PM.
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
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The banks have been out of control ever since the Commonwealth was sold....IMO anyway. It's no coincidence that the Commonwealth has been at the forefront either.
BUT, as disgusting as it is (and everyone knew it would be so) most of it is not illegal. I believe that we should examine all sorts of institutions in the same way, not just the financial sector.
Trouble is of course, that we will be selective in who we inquire against and it will be politically driven. Do you think the ALP will include some of the unconscionable behavior of unions? Not likely.
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
is anyone really surprised and to think its only the tip of the iceberg
It has been long overdue but we had one side of parliament dead set against it
now all we need is one into the unions but alas here once again we have the other
side dead set against it even though the unions are worse than the banks.
I wouldn't say worse....just as bad though some of them.Originally Posted by fandtm666
Not all banks and financial institutions have been shown to be heavily engaged in this sort of behavior either. Rather its the banks and institutions like AMP who are long established and trusted. Shows that corruption (even if it's not always technically illegal) always seeps in where faith and no oversight is involved.
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
I wish my old man was still around to see this. He always knew they were crooked. He called his local bank manager Ali Baba and his local branch Aladdin's Cave. He dealt with most of the Big Banks over the years and he hated them all equally.
The trouble of course is that the people responsible will almost certainly get off scott-free. If we're very lucky there may be a scapegoat or two sacrificed. More likely it will, as usual, be the shareholders who end up paying. I expect when the next AGM's come up bonuses will be as big as ever.
Absolutely!
We would end up with huge budget surplus if EVERY government institution and infrastructure projects were to be examined like this and find out in who's pockets all the huge cost blowouts really end up.
No wonder our top banker Turnbull was against it, he would have known all along what was going to happen.
Don't know why Unions here matter. Are the funded with our tax money? I thought they only get money from membership fees and relatively few are members these days.
But maybe I have there NFC.
Update: A deletion of features that work well and ain't broke but are deemed outdated in order to add things that are up to date and broken.
Compatibility: A word soon to be deleted from our dictionaries as it is outdated.
Humans: Entities that are not only outdated but broken... AI-self-learning-update-error...terminate...terminate...
Banks and financial institutions encouraging people to borrow more than they can afford in repayments has been going on for decades, particularly regarding homes and property.
Customers are basically set up to fail, so the financial institution can foreclose on the property... all legal under the terms of their contract.
Unions?.... I don't think too many of us would be overly shocked by anything that may be revealed with a royal commission into unions.
Unions matter because their political arm will be the next government. Even though they represent less than 20% of workers. Some, most notably the CFMEU lately have openly and publicly boasted that they have, and will continue, to use their financial muscle to break the law.
If that's OK by you then so be it. You have every right to feel that way.
Again, not all banks have behaved this way. Mine is an internet bank and has not even been mentioned AFAIK. It's financial services have always been excellent and it's interest rates on both sides of the ledger realistic.
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
Lucky the banks did not get their way with the government in stripping the unions of their superannuation funds. The union funds are returning their members (not just union members) a far higher return than the banks were
Maybe, and this is a maybe the government may have been interested as the unions derive financial benefit from these schemes and indirectly the labor party
There is a fine line between "Hobby" and "Madness"
As Home Loans are now common place... With low interest rates.
I'll bet you Banks have found thier new profitable business is Debt Collection!
Because the gloves are off and no rules apply..
Well, they do but all lay in the Lenders hands.
They can claim it cost them $100k to recover thier money and what are you going to do about it???
Spend money you don't have taking them to court?
The Banks new secret cash cow.
Last edited by ol' boy; 20-04-18 at 08:23 PM.
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
Hmmmm...reasonable speculation I suppose, but got any proof?
I'm reminded of the old Jean Paul Getty line...."Owe the banks $100, it's YOUR problem. Owe the banks $100 million, it's theirs."
It can bite both ways I guess....like I said, it seems to be largely the majors and large trusted financial institutions.
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
Yeah, I got proof
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
What's the difference between the Commonwealth Bank and a Prostitute?
The Prostitute stops charging you after you're dead!
The Eagle Flies High!
FFS, now CBA has lost 20million customers details
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
Lost in 2016 and no one was told....hahahahahaha ridiculous.
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
Details of 20million accounts, of a bank in a country with 25million population that would normally have to be divided with 3 other major and many minor banks ?
Keeping something like this a secret for a couple of years beggars the question, what else are they hiding and the Royal commission didn't find it, it was a media report.
You would think if this was properly examined, the person who the destroyed the tapes would have come forward and confirmed that. Surely with such sensitive information there would be also more than one individual involved. A few dead rats here.
Perhaps should fire up a tor browser and have a look what these accounts are going for.
Update: A deletion of features that work well and ain't broke but are deemed outdated in order to add things that are up to date and broken.
Compatibility: A word soon to be deleted from our dictionaries as it is outdated.
Humans: Entities that are not only outdated but broken... AI-self-learning-update-error...terminate...terminate...
Wait... Just wait until they look into the CBA's loan foreclosures
Will make everything they have found so far look like child's play
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
Turdbull it trying to protect the banks today as he said he refused the extension of the running of the Royal Commission of the Banks
I have only seen one article that states Kelly O"Dwyers position prior to her becoming a minister. Remember her? she was the very vocal advocate that there should be no royal commission into banking, remember that! . Her position was a senior executive for the ANZ. I would think her chances of getting a rosy position back on the board of ANZ has diminished. And don't forget there was some else who came from a banking back ground as well who was against the royal commission
This not a shot at the Liberals, but politicians in general, my opinion is they all turn to sh1t over time
There is a fine line between "Hobby" and "Madness"
Hahaha...did you know yesterday was politicians day?I have only seen one article that states Kelly O"Dwyers position prior to her becoming a minister. Remember her? she was the very vocal advocate that there should be no royal commission into banking, remember that! . Her position was a senior executive for the ANZ. I would think her chances of getting a rosy position back on the board of ANZ has diminished. And don't forget there was some else who came from a banking back ground as well who was against the royal commission
This not a shot at the Liberals, but politicians in general, my opinion is they all turn to sh1t over time
May the turd....
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
Uncle Fester (04-05-18)
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