"d) They have both forgotten that the strength of our banks (love em or hate em) and banking system played a large part in Australia skipping through GFC 1 "
ANZ and Westpac seem to have forgotten that one of the main reasons they got through the GFC was because the Australian government guaranteed the deposits held by these banks.
all they are doing is promoting competition. A basic requirement for a well rounded functioning system imo.
By guaranteeing these deposits and issuing government bonds in order to invest in RMBS to increase competition I think the goverment knows exactly what it's doing. The problem is the average joe shmuck in the street has no idea.
"Yep its all rubbish,the other costs involved make it hardly worth changing banks."
Would they be the costs the government has banned on new home loans? YES.
