MYL mallee resources limited

Ann: Update on Bawdwin Sale Transaction, page-5

  1. 357 Posts.
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    Despite all the glossy PR around " our service commitments " and "our community involvement" etc, etc, ad nauseam,
    banks are just another business,albeit with some enormous legally sanctioned privileges, and they function essentially
    for their shareholders.

    In fact,at the retail level,that's you and i, any deposits are unsecured loans to the bank,and in the event of serious
    trouble,the bank can and will,all quite legally,use those deposits as it sees fit, with no recourse available to the lender (depositor).

    One can be fairly sure that in the case of the Feb 2021 coup in Myanmar, the ANZ
    was looking out for the ANZ. Period.




 
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