Bankers Billions come from customers’ savings
This week it is Westpac announcing that it has earned a profit of $6 billion in the half year.
That is $1 billion a month. How long are federal politicians going to let this go on?
A little while ago it was CBA announcing $5 billion with a predictive $10 billion for the year. That would be ten thousand times what CBA earned in 1987 before banks were de-regulated
Tell us how it is affecting you.
Better still, send a Votergram telling all Federal MPs that you want a new government bank. That is how to guide or influence government.
Best options are
- make Australia Post into a Postal and banking service as a paying agency for major banks or
- join with Bendigo and Adelaide Bank in a Community bank. That would be an excellent 3-way deal with the government and Bendigo running the banking side, the local community running the shop front and the profits split 3 ways equally after Bendigo’s policy of first putting some of the profits into the local community organisations.