Westpac's Fallacious Public Relations Into ACCC Enquiry!
Here's Westpac's PR Release: https://www.westpac.com.au/about-westpac/media/media-releases/2019/14-october/?utm_source=miragenews&utm_medium=miragenews&utm_campaign=newsNow here's my response
: 15th Oct 2019: Westpac's CEO Brian Hartzer Is Out To Con Treasurer Frydenberg's ACCC Enquiry, Plus 25 Million Australians.
Hartzer's PR Release. Here's Why Its Fallacious:
* Westpac Group (ASX:WBC) Is Gov't Backed, Taxpayer Funded Guaranteed.
* Westpac Has Fleeced $202m From Customers, Being Pocketed Interest Rate Differentials Over Past 3 RBA Rate Cuts.
* Westpac's Net Margin = Difference Between Cost Of Funds Minus Lending Interest Rates & Fees.
e.g. WBC Borrows From RBA At 0.75%; Credit Card Interest Rate = 21.49%
* Westpac's Cost Of International Funds Has, According To RBA, Being Heading "South". Likely To Continue.
* Westpac's AA Credit Rating Is NOT A God-Given Right. It Must Be Earned Daily, Weekly, Monthly.
e.g. Westpac Currently Faces Multiple Regulatory Court Cases & Enquiries, 2 Being:
- ASIC: Money Laundering Charges Instigated By Regulator ASIC.
- AFCA Case # 646231: Balance Assets re Home Mortgages Are Over-Valued 32%
In Short Aussie Public Are Being Conned. Multiple Times Over.
Trust Shareholders Are Not As Trusting?
