To telamelo: My dear boy...it has nothing to do with the banks' shitty practices, nor has it anything to do with greed and exploitation. It has everything to do with capitalism and its inherent flaw in which a disproportionate amount of the total product is appropriated by capitaI, at the expense of labour.
Saint Mathew observed this behaviour when he wrote: "For he that hath shall be given more, so that he that hath shall have in abundance; and from him that hath not shall be taken away...even that which he hath". In other words, the rich get richer, and the poor get poorer. Of course, he was talking about spiritual growth, but the principle remains the same.
I suggest you read Karl Marx for a better insight into how capitalism reproduces itself and survives. Left to itself, capitalism would collapse (as predicted by Marx), and governments have to intervene to mitigate this disaster - indeed, it is the only way capitalism can survive. Regardless of whether you agree with all this, we're stuck with it, so get used to it (or just hope we're invaded by China).
CBA Price at posting:
$100.99 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)