I have no opinion on banks either way, but Enoch you and other...

I have no opinion on banks either way, but Enoch you and other who hate banks are just plain wrong and excuse me for saying, ignorant...nothing personal...

You can trust Australian Banks becasue they have done the right thing by every Australian over the past 2 years - they remained solvent when (almost) every large international bank are on the verge of collapse with sharholder equity completely wiped. The rumour is that the US Govt has inject TRILLIONS in their banks to keep them afloat...

The Australian banking system is the envy of the world over. Sure they are pricing in risk. Greedy businesses and individuals over the past few years tried to buy everything with debt (houses, businesses, shares) and are now begininning to feel the pain of the excess.

Why are the banks the problem. The banks didn't force anyone into asking for money...All those mortgagees that borrowed 110% of their asset values at the top of a market and now crying that they may lose their home - well BAD LUCK...Don't blame the banks...Blind Freddy could have told you that this was stupid.

My wife and I discussed buying 1 or 2 investment houses over the past 2 years as our wages rose. In hindsight we are glad we didn't, but now we are able to pick off those that were stupid enough to go out and pay top dollar and then have the hide to turnaround and say well the banks are playing hardball and I'm losing my house. I say thank you...nothing personal...

Simple, if you can't afford the house, DON'T buy. This is the risk you face when purchasing a house. As long as you have a debt, you don't get a right to keep it just because your name is on the title. Make the repayments or hand it over...that's just life..

I think its time that people woke up...Banks have owners and most of us have a common interest that our banking industry continues to price risk at a better level than what we have in the past. If it means slightly more cost, then too bad. I know banks have bumped up margins by 1 to 3% and possibly a bit more for corporate borrowers and if this causes an issue why would you as a business or home buyer be buying something with only a slim margin of error.

Can you even imagine for a second what your life and super would be worth now if we had a banking industry like the US????????????

The banks are preparing 'prudently' for the tough times ahead. I know ANZ has A$53b+ of excess liquidity and I bet its to pick up cheap Asian banking assets over the coming months/year. Bank of Queensland indicated they will post a 25% increase in half year profit. I say great because I have shares in this bank also through my super. If they were losing money, that would be another hit to my super.

My wife and I are school teachers so we have no allegience to any particular bank and are suppose to be anti-bank and all that stuff.....but take note, if they start to fail like the global banks, there will be no one on this site because you would all have lost your jobs...

I think banks get a bad rap because they are successful. You don't have to place your money with them. Put your money in a credit union, their fees are usually cheaper.

I said that to a friend not that long ago and they replied but then I can't get money everywhere....Well thats what your paying for...USER PAYS BUDDY!!! You want someone to manage your money and lifestyle for that matter, then pay for it. If not, put it in a passbook in a CU and stop whinning.....

Bank bashers are those that really only want something for free. Does anyone argue when BHP makes a record A$15 billion profit??? Why didn't they pass some of this on to people building homes with cheaper 'inputs'? I'll tell you why, they have shareholders that would kick their butt if they weren't actively making the best use of their resources and capital. BHP is ripping off everyone just as much as banks and supermarkets and anyone out to make a profit...

In terms of the OZL banking syndicate, we hear on this forum that just wait and the metals will rise...Well the bank has more risk of failure than anyone here with their 5000 or so shares. If I had a large holding in banks I damn sure would want them to do the best to ensure my money was safe. Not sit around and hope for some sort of miracle...Who knows, commodities may rise next month or it may be 2 years off. Would you leave your money in OZL if you had no idea if prices would improve. I say NO becasue as a shareholder you can sell out anytime (Now the shares are able to be traded). Banks don't have that luxury...They are either in for the long haul or have to try and find someone else willing to take on the debt...Much harder I suspect than selling a few thousand shares.

Anyway, I'll go back to my school work. Kids don't care about this crap...

Sorry about the whinge, but really, think how lucky we really are before we start whinging about something that actually benefits you and keeps you employed...

Marco