Aussieveedubbers 路 General Chit Chat

banks

https://forums.aussieveedubbers.com/threads/94191/banks

ian.mezz 路

The only interest the big banks care about this xmas is their own 馃ゲ
They were quick to put the rate up more then the reserve bank rate rise , but they don't want to put it down over xmas cause it may affect their xmas bonus 馃ゲ

68AutoBug 路

ian.mezz wrote:The only interest the big banks care about this xmas is their own 馃ゲ
They were quick to put the rate up more then the reserve bank rate rise , but they don't want to put it down over xmas cause it may affect they xmas bonus 馃ゲ
Quite Right Ian......

so why do We have the reserve bank???

they say UP the rate.. and they all jack up the rates ASAP...
they say down the interest rate... and some banks don't pass it all on...
it looks like most don't want to change the rate
this time..
so , what good is that???

I thought the reason the reserve bank changed rates was so the banks would have the correct RATE.. ???

[but now only when it suits them]

LEE

donn 路

Stating the obvious Mr Mezz, why others (I already do) don't deal with the building societies etc that treat us fairly is beyond me, Happy Christmas to you Mr. Mezz and the scruptios Rose and all the other people on here. That's from me not the banks. 馃榾

3amigos 路

Rates up or down doesnt worry me but has anyone thought of the self funded retirees who need high rates of interest on their cash accounts. Alot of people on here would also have shares in at least one of the big 4 (thru there super)

this is a good read

http://www.businessspectator.com.au/bs.nsf/Article/Bashing-banks-for-a-rate-cut-pd20111207-PB9LP?OpenDocument&src=spb

h 路

a bank i deal with is ME bank its cool
it passed on the whole shebang! which is not unusual
I just deal with them on the phone n fax or post off app forms when I feel like it,
+ not making an appointment with sone overpaid bank manager who most ppl would lick up to.. who has the time anyways
id like to know what the big banks ROI is?
anyone here know?
then we may see if the 'super' profits justify for the shareholders
at a time when a lot are hurting being a greedy bank with your $ just doesn't cut it
timing is everything n unfortunately with xmas here it isn't gunna do the banks any favors (as usual)

silver 路

Higher Interest rates are good for those of us with money in the Bank
I want 15%

thebullfrog 路

silver wrote:Higher Interest rates are good for those of us with money in the Bank
I want 15%
As my beetle gets more goodies, my interest paid on my accounts decrease. Such is life.

3amigos 路

silver wrote:Higher Interest rates are good for those of us with money in the Bank
I want 15%
greedy bugger...I'll take 10%馃お

beetleboyjeff 路

Bear in mind though, 'bank' IS a 4 letter word.

I mean if you don't like someone, dont you call them a 'bank'? (as in "ah, your a bank" - huge insult I reckon) :-)

AA003 路

beetleboyjeff wrote:Bear in mind though, 'bank' IS a 4 letter word.

I mean if you don't like someone, dont you call them a 'bank'? (as in "ah, your a bank" - huge insult I reckon) :-)
I've heard of people being called "bankers". Or it sounds like bankers.

Bizarre 路

just to throw a spanner in the works.

The large amount of reserves that the banks are currently holding certainly helped us through the last GFC - that and the government economic stimulus package and the Reserves rate cutting.
My opinion is another GFC is comming.

I would rather have our 4 major banks than the tin pots in USofA or most of the European ones

h 路

^ yep
ATM in eastern Europe, Latvia, the major bank in the country has faltered with all of the ppls savings gone, all the pensions paid from the govt to the pensioners gone n as ppl tried to pull there $ out of the bank they put a max withdrawal limit on them around $250 or something like that nominal amount to try n keep what's left of it afloat
just imagine the KHAOS if they came here 馃檯
I feel we are in GFC # 2 but the numbers to be measured haven't caught up just yet
Merry Christmas everyone 馃お

Poolio the VW ganster 2 路

Banks have one problem greedy CEO's that have their wage hooked up to share performance and profit margins they do not give a you know what about punters that borrow money they just concentrate on shares & profits and their final payout of millions.
I agree with others comments go with building societies non profit if you can run by unions or groups like teachers or police

AA003 路

Poolio the VW ganster 2 wrote:I agree with others comments go with building societies non profit if you can run by unions or groups like teachers or police
Their loans are usually dearer.

donn 路

AA003 wrote:
Poolio the VW ganster 2 wrote:I agree with others comments go with building societies non profit if you can run by unions or groups like teachers or police
Their loans are usually dearer.

Not where I deal, and they are profitable even after giving heaps to charities, 馃憤

1303Steve 路

Hi

Having paid 13.5% capped and upto 19% uncapped in the past, I think borrowers are getting a good deal. I would rather have safe banks than be like some overseas countries.

Steve

ian.mezz 路

stuff having all the money in banks , who says they are doing the right thing with it.
try getting a loan with no job .
the world needs cash flow.

vassy66T1 路

ian.mezz wrote:stuff having all the money in banks , who says they are doing the right thing with it.
try getting a loan with no job .
the world needs cash flow.
Well said Ian.
That is what the rate cut is about.

vwo60 路

Unfortunatly we live in a capitalist society, bussiness needs to make a profit, we just have to put up with it, we are a lot better of currently that a lot of other countries but that will remain to be seen for how long

donn 路

vwo60 wrote:Unfortunatly we live in a capitalist society, bussiness needs to make a profit, we just have to put up with it, we are a lot better of currently that a lot of other countries but that will remain to be seen for how long

Unfortunatly ? What's the better alternative ?

AA003 路

donn wrote:
AA003 wrote:
Poolio the VW ganster 2 wrote:I agree with others comments go with building societies non profit if you can run by unions or groups like teachers or police
Their loans are usually dearer.

Not where I deal, and they are profitable even after giving heaps to charities, 馃憤
And which bank does your credit union deal with?

sander288 路

ian.mezz wrote:stuff having all the money in banks , who says they are doing the right thing with it.
try getting a loan with no job .
the world needs cash flow.
Why would the bank loan you cash if you had no job? They arn't a charity!

I wouldn't loan anyone money if I didn't think they had the means to pay me back

On the note of interest rates; well with only 4 big players in the banking sector they can pretty much do what they like.

What the government needs to do is have its own government owned bank who interest rate is the rate set by the reserve; this is how Comm Bank used to operate and it would keep the others honest.

The reserve really has no power as it's not actually offering the rate as a service for consumers; if the reserve was actually a lender to consumers and not to the government I'm sure the big 4 would be trying to compete.

My 2c....

I think in Australia our bigger worry is Woolies and Coles dominating every base need in our economy. If they are able to control every item that is included as CPI then what do you think will happen to prices of everything?

Cheers

Shaun

Ps What do I know; I just like Volkswagens!

donn 路

vwo60 wrote:Unfortunatly we live in a capitalist society, bussiness needs to make a profit, we just have to put up with it, we are a lot better of currently that a lot of other countries but that will remain to be seen for how long

Unfortunatly ? What's the better alternative ?

ian.mezz 路

sander288 wrote:
ian.mezz wrote:stuff having all the money in banks , who says they are doing the right thing with it.
try getting a loan with no job .
the world needs cash flow.
Why would the bank loan you cash if you had no job? They arn't a charity!

I wouldn't loan anyone money if I didn't think they had the means to pay me back

On the note of interest rates; well with only 4 big players in the banking sector they can pretty much do what they like.

What the government needs to do is have its own government owned bank who interest rate is the rate set by the reserve; this is how Comm Bank used to operate and it would keep the others honest.

The reserve really has no power as it's not actually offering the rate as a service for consumers; if the reserve was actually a lender to consumers and not to the government I'm sure the big 4 would be trying to compete.

My 2c....

I think in Australia our bigger worry is Woolies and Coles dominating every base need in our economy. If they are able to control every item that is included as CPI then what do you think will happen to prices of everything?

Cheers

Shaun

Ps What do I know; I just like Volkswagens!


cause you lost your job, because they didn't pass on the interest cuts and you lost your home and things went to shit.

donn 路

AA003 wrote:
donn wrote:
AA003 wrote:
Poolio the VW ganster 2 wrote:I agree with others comments go with building societies non profit if you can run by unions or groups like teachers or police
Their loans are usually dearer.

Not where I deal, and they are profitable even after giving heaps to charities, 馃憤
And which bank does your credit union deal with?




Not a credit union, Greater than that,

BeetleJuice 路

ANZ have just released that they will be passing on the full 25 basis point cut.

One has to ask what about the rate rises the banks have lifted rates outside of the RBA moves????

3amigos 路

h wrote:^ yep
ATM in eastern Europe, Latvia, the major bank in the country has faltered with all of the ppls savings gone, all the pensions paid from the govt to the pensioners gone n as ppl tried to pull there $ out of the bank they put a max withdrawal limit on them around $250 or something like that nominal amount to try n keep what's left of it afloat
just imagine the KHAOS if they came here 馃檯
I feel we are in GFC # 2 but the numbers to be measured haven't caught up just yet
Merry Christmas everyone 馃お
the numbers will..and the banks are in deep shit...Europe is a ticking bomb...

3amigos 路

donn wrote:
vwo60 wrote:Unfortunatly we live in a capitalist society, bussiness needs to make a profit, we just have to put up with it, we are a lot better of currently that a lot of other countries but that will remain to be seen for how long

Unfortunatly ? What's the better alternative ?
ditto...

mactaylor 路

3amigos wrote:
donn wrote:
vwo60 wrote:Unfortunatly we live in a capitalist society, bussiness needs to make a profit, we just have to put up with it, we are a lot better of currently that a lot of other countries but that will remain to be seen for how long

Unfortunatly ? What's the better alternative ?
ditto...
Its called a benevolent dictator, but that aint gunna happen so what we need is to firm up our exports like the US does when it gets in the shit so trade tariffs on imports and loosen the export regs on the mining and manufacture sectors and stem the labour expenditure and fuck the extreme union workers off!