Banks in general suck

[PCH (Paul)]

Fred,

that is so funny. I've been resisting the urge to contribute to this thread - but I will have to congratulate you on your witty cynicism there.

I'll stick that in my litle book of 'things I wish I'd said!'

[Stardrifter_WA]

Originally Posted by Ric

Here's a utopian thought.

It would be fantastic if the government in power passed a law to restrict the banks mortgage rate to only what the reserve sets.

Wouldn't it be great to have a rate of only 4.5% or so.

Unfortunately no goverment is brave enough to challenge them, but I reckon that the government that did would end up in power for the 50 years.

Crazy idea Then you would be in the last generation of mortgagees.

Kill the banks, then you will have to rely on a bunch of Shylock's. Now that would a great idea. Not!

[TrevorW]

Know how the banking system started, loans ie: the lending of money

The first records of such activity dates back to around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders who were based in temples made loans but also added two important innovations: accepting deposits and changing money. During this period, there is similar evidence of the independent development of lending of money in ancient China and separately in ancient India.

Yes Fred I have written to the banks about their lack of concern for their long term customers with little effect unlike other industries where people support good companies and walk away from bad with their buying power banks are not concerned about customers going elsewhere because they collectively control our money

so unless you are mortgage free/ don't invest in super/ don't loan/lend money and keep everything in a safe at home, then one way or another the banks have got you by the balls

[Stardrifter_WA]

Originally Posted by brian nordstrom

yes but I bet you they dont spent that kind of OBSCENE money on their's ,, Do the maths Mr bank lover $15000 per head for 5 days , I could not spend that much , you would run out of things to buy after 3 days ..
But dont forget the 1000 or so that are having their jobs AXED!!! and out sourced to India and the likes , These are only the first of many , many more . I hope your job security is solid ??? , being just another drone .
Brian.

Hey Brian, how's things in the top end?

I agree with you, to a point. It doesn't matter anyway, as the bank has cancelled these incentives anyway, due to community expectations. The timing was pretty damn lousy, for sure.

Employing people is difficult enough as it is, particularly given the "red tape" and other compliance costs and government intrusion.

If we all went to work and put in an absolute maximum effort, incentives wouldn't be needed. Unfortunately, some people work harder than others. So, the one's that work harder, should they get the same as those that don't? Incentives give everyone a reason to try and achieve their best. It works in all industries, not just banks.

[Stardrifter_WA]

Originally Posted by TrevorW

Know how the banking system started, loans ie: the lending of money

The first records of such activity dates back to around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders who were based in temples made loans but also added two important innovations: accepting deposits and changing money. During this period, there is similar evidence of the independent development of lending of money in ancient China and separately in ancient India.

Yes Fred I have written to the banks about their lack of concern for their long term customers with little effect unlike other industries where people support good companies and walk away from bad with their buying power banks are not concerned about customers going elsewhere because they collectively control our money

so unless you are mortgage free/ don't invest in super/ don't loan money and keep everything in a safe at home, then one way or another the banks have got you by the balls

Yeah Trevor, leave all your money in your mattress, or elsewhere in your house. If the house burns down, then you really will have nothing. Don't laugh, I know someone this happened to, all because he didn't like banks. Not everyone can afford a fire proof safe