Yes, great post, I think a banking windfall profits tax is on the cards, very bad for CBA, less so for ANZ and Westpac, NAb will be more worried about its compliance and money laundering scandals than the tax it pays IMHO.
BHP and RIO sholders would be super worried about a windfall tax. perhaps CBA a will need to debank resources along with ANZ, NAB and WBC (smaller part of WBC book).
Responsible lending laws will be tightened, WBC will need far more compliance under Labor.
It won’t be easy, Reg, windfall taxes, all make banking sholders queasy?
WBC Price at posting:
$24.55 Sentiment: Hold Disclosure: Not Held
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