geez, you do take things out of context...don't you there is a thread or post today about the banks offering 100% home loans...that is totally irresponsible
when the rest of the world was getting low interest rates at the beginning of the GFC, ours went to the highest they had been in years... mainly due to the idiot swan saying we were immune
so can you understand now why we are again going backwards, into GFC phrase 3, with the predictable slow down and job losses the interest rates for businesses are back up around 8% and higher...deposit rates are under 3%, and home loans mid 5%
everything is hunky dory if you have a mortgage, but god help you if in business or reliant on savings interest for income the banks need bringing back to reality, with different rates for different classes as above or a one size fits all...with fixed rates not variables the CPI and RBA fixation on interest rates, were not designed for only the housing industry
have you not kept up with the corruption in the banking industry, the most recent being the LIBOR scandal... our economy is in a perilous state, but the banks still record profits in excess of 6 billion each
so much corruption from a political level, together with the banks, can make most of us a little uneasy, to say the least there are too many cowboys out there today
