new com bank

If the big 4 banks do not pass on this RBA interest cut,then there is a very strong argument for reintroducing a Fedearal Gov Bank.One of Labs biggest mistakes was privatising the CBA.Though I am a small c capitalist I believe the banks cannot be trusted with our money without competition.The presence of a Gov bank and many small banks gave the public some protection against the greed and immorality of the money men.The financial whizz kids of the financial world brought on this crisis with their non productive wheeling and dealing on the financial markets.They produce nothing but are able to control the real wealth makers by manipulating OUR money in the funny money market.Greed is their only motivation and they should not have the power they have if they are not going to act responsibly.I am anti nationisation of all banks,but their present actions have shown a need for strong regulation of their destructive money grabbing actions.They caused the problem and should at least share in the pain.