Just been watching a newscaster, telling us that the major banks in Australia have greedily extorted almost $10 billion from us, via fees and charges. You don’t have to ask us how hard we are all struggling in this country, especially when you add into the equation interest and inflation rises that affects most of us with our mortgages and costs of living.
However, what else could we expect from a bank, they have their share holders to keep happy. I’m reliably informed that most of the shares are off shore, so they couldn’t care less what’s happening to the average Australian. If you don’t believe me try and purchase a few Commonwealth Bank shares, there like gold dust and why wouldn’t they be, after all last year the bank made over $4 billion clear profit. It’s looking like they will certainly top that this year. During a time when high inflation is taking its toll on most households, they have gone ahead and raised its charges, even higher than the official bank rate.And where is the Government, while all this is going on, well don’t hold your breath, after promising to govern us better than the outgoing Government, it’s actually getting worse. Most of us said we would give them a fair go, and we have, but it’s looking like we are in for another dose of MORE.
I remember a few years ago when the outgoing government de-regulated the Banks a long with a few other industries. We were promised it would all be good for us. It would introduce competition and that we would be the winners. WRONG we have all been the losers. Where is the competition I hear you say, well there isn’t any because all the Banks play around with extra fees and charges in different ways, saying we have a choice of where we bank, but in the end it all comes out the same. How can I prove it, well last year the National Australia Bank also made just over $4 billion. Therefore it does not matter where we bank, in the end we are all slugged the same.
The deposit of our wages into a bank account was forced upon us by our employers leaving us with no say in the matter. However, it’s the lower end of the workforce that’s feeling the pinch the hardest. After their $300 is placed in to their account on a Thursday and its then drawn out on a Friday to pay the bills. It also means the account is empty, and so once again, yes you guest it, they slug the account with extra fees because it’s empty. But the bank could not careless they just offer the poor sole a brand new credit card at XXXX amount interest, and so they slide deeper into debt. Ever thought that we are the real losers, after all it’s our money that has to try and save these poor souls.
If the government was fair dinkum and really wanted to do something, why don’t they start by re-regulation the Banks, and while you are doing it why not include the Petrol companies as well, that was another dud herring you sold us, competition my A - - -.
We are even taxed twice on petrol. They changed the wording of tax to levy, then they include the government levy in with the cost of a litre of petrol and finally charge us GST on the total, double dipping I call it.
Kevin Rudd in my book you only get one chance especially while times are as hard as they are, and this is yours.
Remember one thing, Howard found out the hard way, thought he was invincible and untouchable, much like Maggie Thatcher, but he paid the price in the end. If you want to leave your mark on Australia politics this is the time and your chance. USE IT
Terry Aspinall16.05.08