I just don't see the point in discussing with someone so misinformed. You have an issue with banks lending money but you clearly don't understand the economic benefits of having a financial intermediary to facilitate the flow of funds. Imagine a world where bank's don't exist, how would it feel saving 5 years for a car and 30 years for a house? Alternatively how do you envisage a world where banks exists that work on a not-for-profit? How would investors invest in equity, additional tier 1 and tier 2 instruments which work as a buffer to protect depositors so that tax payers don't have to flip the bill in the event of a bank failure?
Banking is complex but it's systemically important. It's very easy for people like you to criticise banking but very hard for you to provide an alternative. I get it, bank bashing is fun. But I don't want to play a part in it, I don't want to get sucked into pointless discussions and it's not my job to educate you. I mean that with the utmost respect.
CBA Price at posting:
$98.40 Sentiment: Hold Disclosure: Held
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