Personally I don't think it's reasonable to assign the problem of inequality to the major banks. They operate in a free market economy where management are expected by shareholders to manage resources as efficiently and profitably as possible.
It is the role of Government to redistribute income and wealth to reduce inequality in society, not the banks. However banks play their role in contributing to this via the vast corporate taxes paid by them as well as income taxes paid by the thousands of employees at the major banks. Such taxes are redirected into health, education, welfare etc.
It's also the responsibility of Government to intervene and adjust regulations in the banking industry to ensure consumers are protected and treated fairly. If this isn't happening, your protest is best directed at Government and trade practices legislation.
The other option is to have a Government owned bank, which of course the CBA originally was. Should we go back to those days of inefficiency and a lack of innovation?
One of the hallmarks of inequality is housing affordability and again the Government (of all levels) is tasked with addressing this issue. Housing supply is stifled by local Government and incredibly generous tax concessions are afforded to individuals who own multiple properties.
If the banks operate outside the law and behave unethically, by all means they should be held accountable. But the regulatory framework itself rests with Government.
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$138.13 |
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3.230(2.39%) |
Mkt cap ! $231.1B |
Open | High | Low | Value | Volume |
$137.04 | $138.13 | $136.54 | $588.4M | 4.427M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 122 | $137.95 |
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Price($) | Vol. | No. |
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$138.15 | 1500 | 2 |
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No. | Vol. | Price($) |
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1 | 1 | 137.730 |
1 | 45 | 137.300 |
1 | 185 | 137.270 |
1 | 1000 | 137.200 |
1 | 185 | 137.170 |
Price($) | Vol. | No. |
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138.180 | 250 | 1 |
138.200 | 1768 | 4 |
138.210 | 60 | 1 |
138.230 | 36 | 1 |
138.240 | 194 | 2 |
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