Elite Status is Bad for banks, page-5

Have to say - and don't take it personally - that I am a bit confused about all you have written.

1) Banks do not determine the cost of living. Even taking into account tighter ending practices.
2)Losing business that was seen to be more risky may well be a very good thing. I suspect, the leakage is not as big an impact as you may be making out.
3) There are a multitude of people who are NOT executives and millionaires but people such as you and I.
4) It does tend to amaze me that people can have such a narrow vision when it comes to certain industries - banks and the public service come to mind quickly. It is "the Bank" as if this evil entity arrived from space and is now trying to dominate us all. Banks employ over 2% of the workforce. The rank and file don't really get that good a pay and they are normal, even average, people - with mortgages, kids to raise and bills to pay. They are the bank too. Maybe forgotten in people's hatred of the banks.
5) I think I will ignore your sell recommendation. I have to ask why I would sell when I am getting a fairly secure 6% after franking - 8.5% pre-franking dividend return and the SP has been trending upward since the royal commission. Unless, of course, you could recommend a better place to invest in at the moment. I can't think of one personally.