OK, I finally get it. Mr Chronican isn't really concerned with negative gearing, capital gains, speculators or if people have a roof over their heads.
ANZ have finally realised what some of us have known for years - that property is in a huge bubble and is now showing signs of popping. This will have a big impact on ANZ who have cheerfully fuelled the speculative bubble up until a "road to Damascus" moment, and are now seeking to blame Govts. past and present for allowing the bank to build up a mortgage portfolio which will soon be well underwater.
It's all the Govts. and speculators' fault. Nothing to do with the Bank. When we start kicking people out of their homes, and raising interest rates to maintain our margins, DON'T BLAME US!
