Bank customers lose

In 1987 before bank de-regulation and sale of government banks to private profiteers, CBA made a net profit of $333,000, RBA inflation calculator puts that at $964,000 in today’s money.  Call it $1 million. Bank customers lose out. This year CBA will earn about  $10 billion, $10,000,000,000, 10,000 times it’s pre-deregulation earnings. Bank loan customers like Home buyers, business debt or farm debt holders lose most.

Government owned bank

If we had a bank owned partly by the government and partly by the bank customers in the style of Bendigo Community bank, the people of Australia could enjoy better, cheaper banking services and be richer. Bank loan consultants like us could do more productive things than debt mediation, stopping foreclosures and farm debt mediation. The big four billionaire banks and their multi-millionaire executives would change tack and compete for your business by reducing their outrageous charges and increasing your benefits.

Make it happen!

To make this happen, please go to go to www.bankwatch.au. Click the “Tell us” tab, click on “ Better, fairer banking industry”, add your details and submit. The Votergram system can persuade as many of the 225 federal MPs that this would be good for them too.