Is BHP the First Aussie Co to Lose $100B in Value, page-5

How come we don't see the banks doing the same here in Australia? Cut interest rates on mortgages, take out the smaller lenders and then jack up interest rates later on when the market is concentrated among the Big 4.

Answer- There will always be competitors in some shape or form. Its the vermin you can never completely eradicate. Any attempt to exterminate competition will only bring the desired result for a short term duration. When conditions improve in the industry they will be back. Why deny yourself rewards to keep something at bay that will come back regardless? Better to jack up rates (e.g. WBC) and let the whole industry follow you. Even non-bank financial institutions which were not subject to the same capital requirements as the Big 4 jacked up interest rates following WBC's lead. Moral of the story, don't cut your nose off to spite your face. Live and let live.