Perhaps they should tax Telstra and BHP they both have a higher ROE than the banks,when the media put up the head line banks profits people quickly forget that the share holders have to bolster the banks coffers many times ,the last few years bank shares have been very poor performers showing dividends but no growth.
The Federal government has provided the bank guarantee and the banks should should pay for it although that guarantee kept the economy ticking over and allowed them and Australia overseas credit although much of it went to the wrong places.
I think it sets bad precedent that will back fire on SA as some other states will be no doubt anxious to talk to the banks to relocate their business. I think the Weatherill is a light weight in La La and the banks executives even on a bad day will run rings around him,interesting times ahead.
