bankes behaving badly.

[Poppa]

Anyone remember when the government de-regulated the banking industry because banks would be responsible enough to police themselves? I think you have to realise that any business is in the business of operating for a profit. The banks will maximise their profits and do everything that the government and their customers allow to do so. The slide in the standards of banking services and the increase in the fees that they charge (and thus the profits that they make) has happened because we let it happen, and we elected idiots who either let it happen or profited from it happening.

And the shareholders (who are us, either directly or through our super funds) are happy to take the profits.

It is the same with the supermarket and shopping centre industry. The government is letting a small cartel of big companies ride roughshod over the consumers and small business owners. And we let them because it is nice to have a Coles or Woolworths at every shopping centre, and we like to get the 4c a litre off the price of petrol.

So what can you do about it? Change your habits, shout it from the rooftops, convince everyone you know to change their habits. Punish the banks when they charge you outrageous fees by switching banks. Punish the supermarkets by shopping elsewhere (Aldi is cheaper, the fruit market is often as cheap and with better quality). Write to your politician. Become a politician (and resist the constant temptation to go on the take like most of them do almost immediately). Promote honesty, honour, decency, etc, within your family and live it by example. Start a movement to clean up our act. Start a website! Do something.

This situation has been brought about by the public only looking after their own interest for the short term, rather than thinking about the good of all for the long term. The attitude of the banks only reflects that of the majority of society - how much can I get and I want it now!

[damian]

I have been with the same credit union for 20 years. It has less than 5000 members, when I call most of the staff know me by face and name. They have more deposits than loans. They are linked to NAB and the CU network for some functions, like atm's. I pay almost no fees, just a couple of $ for my visa debt every month and for the cheque book and special deposit books I use.

The british legal system developed to protect land owners from the peasants. It's become less blatant but is still essentially the same. The banking system runs for the banking systems benifit. They will do whatever they can get away with.

There is a strong case that the company is the greatest evil mankind has ever invented. It is responsible for far more killing and torture than any weapon or government. It provides the perfect enviroment for the psychopath to do what they will to the community and enjoy the legal protection of the soulless legal entity.

I became convinced in the early 90's that western civilisation is in decline. Read up on the fall of previous civilisations and you will see most of the signes are there. I have been convinced for some years now that I will live to see it's capitulation. The failure seems to be accelerating exponentially.

I am planning to get a small acreage that hopefully no one will try and take from me, get off grid, grow my own food and hide from what's comming.

Depressing, and I'm sorry for that, but I'm far from alone in my belief.

[jerryc]

The whole argument about how much, if any, government regulation is necessary is a complex issue. Laissez Faire (leave things alone) was tried by the British in Victorian times and found to be unworkable. The USA however is convinced that ANY government intervention is akin to Communism. It happened in the Great 1890's Depression, it happened in the 1929 Depression and it's happened again. Perhaps the US are slow learners.
With regards to the banking industry we can thank Reganomics and Thatcher (both greatly admired by Howard) for the present mess. Put simply, the idea was that banks would regulate themselves because the market would act as a brake on excess. Any unfettered power is a pathway to corruption.
As for the public all politicians know that the public has a remarkably short memory and resists the idea of change. Throw in also the NIMBY attitude that the majority of the public has.
i started this thread rather tongue in cheek, amazed at the greed of those who have more money than they need. That was naive of me

Jery

[jimbur]

Not slow learners, just hypocritical. What on earth can you describe farming subsidies as if not government intervention in the free market?
Cheers,
Jim

[Sebastiaan56]

I have been with the same credit union for 20 years. It has less than 5000 members, when I call most of the staff know me by face and name. They have more deposits than loans. They are linked to NAB and the CU network for some functions, like atm's. I pay almost no fees, just a couple of $ for my visa debt every month and for the cheque book and special deposit books I use.

The british legal system developed to protect land owners from the peasants. It's become less blatant but is still essentially the same. The banking system runs for the banking systems benifit. They will do whatever they can get away with.

There is a strong case that the company is the greatest evil mankind has ever invented. It is responsible for far more killing and torture than any weapon or government. It provides the perfect enviroment for the psychopath to do what they will to the community and enjoy the legal protection of the soulless legal entity.

I became convinced in the early 90's that western civilisation is in decline. Read up on the fall of previous civilisations and you will see most of the signes are there. I have been convinced for some years now that I will live to see it's capitulation. The failure seems to be accelerating exponentially.

I am planning to get a small acreage that hopefully no one will try and take from me, get off grid, grow my own food and hide from what's comming.

Depressing, and I'm sorry for that, but I'm far from alone in my belief.

You're almost as pessimistic as I am Damian. But I must agree. I heard a stat I havent been able to verify, that 6 of the largest 10 economies in the world are companies. Basically we are the feudal serfs of corporations rather than Kings, Queens or landed barons of the past. All of us. Democracy is a failure, witness the US Supreme Court overturning 100yo laws about corporate sponsorship of political parties. There are already tales about how Haiti has to reform its economy to qualify for US aid, imagine what Kraft / General Mills would enforce in such a situation.

Well documented science is professionally ridiculed in the press so we can conduct business as usual, Banks get bailed out by taxpayers for no benefit to taxpayers. Yup, the dollar rules, corporations rule the dollar and the rest of us are microorganisms bred to increase profit. Wo betide those who would come between a chairman and his quarter of growth. Keep breeding folks, we are getting short on consumers (Costello, Abbott, Rudd et al)

Personally I can hardly wait for an oversized Sarah Palin sponsored by Krispy Kreme telling people that underweight is wrong and the medical professions' conspiracy against cigarettes has to stop.....