ASX Morning call 9 OCT, page-24

I am surprised no one is addressing the elephant in the room:

all signs are pointing to the fact that legislators and regulators will completely turn Banks revenue model on its head 

the reason these banks have not halved in value already is not so much the future of what will happen to them it’s more the fact that there is an element priced in that believes common sense will prevail. 

Unfortunately though politicians don’t work like that, ahead of us lie one of the most over reaching banking regulation the world has ever seen and in the climate of cooling property market unfortunately our politicians are leading us to the edge of abyss. 

With election pending we could be either around or below the GFC lows next year. 

Regards