The current Government has been too soft on CBA and the Prime Minister's son Nathan Albanese works at CBA which is an appalling sign and threatens the whole integrity of the banking system and CBA in particular especially when Australian banking has some of the highest prices and margins in the world and a dramatically low cost base along with considerable protectionist treatment such as the Four Pillars Policy and the bank guarantees.
They charge far too much, have very low costs and very low regulation, employ the Prime Minister's son creating an obvious integrity problem, have an auditor that committed acts which would not have been allowed in any other country let alone tax system, and have very high margins with predatory behavior towards new entrants and foreign banks.
NatWest and HSBC could not takeover Westpac and ANZ even if they wanted to, and CBA under threat of being broken up for monopolistic power just continues ripping off consumers.
CBA Price at posting:
$145.93 Sentiment: Sell Disclosure: Not Held
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