10 Points, why does the Australian Government think it has the right to tell private...

E

estelle

New member
...businesses and banks? how to operate.

I'm talking about the Labour Party.

The commonwealth bank lifts the interest rate and they are branded 'selfish'. Does the government have the nerve to be calling the shots?

Business need breakfast as well.

Calling me 'out of touch' won't work, because the same Prime

minister owns a few mansions and has millions.
 
The government isn't really calling the shots, because otherwise they would have forced CB to lower interest rates.

The Australian banking system is very effective but there is not a whole lot of competition. It is a bit of a cartel, not that that is necessarily a bad thing.

What Rudd is doing is showing the banks that they will get bad publicity if they have their rates too high. It is not normally the government's role to do something like that because normally the government would instead manipulate the market to make it more competitive, and the competition would do the job. But in this case, it's probably better to just do what he's doing.

The CB doesn't have to listen to him, but if they don' they have to put up with the bad publicity, and so they can make their own choice. I think what Rudd is doing is quite clever.
 
Wow, you're mad. The government has done the right thing. It has to bring the fat banks back on track. I don't know that the PM has mansions and millions, but he will do the same thing if he were poor.
 
Wake up, Estelle. It's called politics. Whoever is in power does exactly the same.
Why would you stick up for the big banks anyway? They'd stick it to you as soon as look at you.
 
The government isn't really calling the shots, because otherwise they would have forced CB to lower interest rates.

The Australian banking system is very effective but there is not a whole lot of competition. It is a bit of a cartel, not that that is necessarily a bad thing.

What Rudd is doing is showing the banks that they will get bad publicity if they have their rates too high. It is not normally the government's role to do something like that because normally the government would instead manipulate the market to make it more competitive, and the competition would do the job. But in this case, it's probably better to just do what he's doing.

The CB doesn't have to listen to him, but if they don' they have to put up with the bad publicity, and so they can make their own choice. I think what Rudd is doing is quite clever.
 
The government isn't really calling the shots, because otherwise they would have forced CB to lower interest rates.

The Australian banking system is very effective but there is not a whole lot of competition. It is a bit of a cartel, not that that is necessarily a bad thing.

What Rudd is doing is showing the banks that they will get bad publicity if they have their rates too high. It is not normally the government's role to do something like that because normally the government would instead manipulate the market to make it more competitive, and the competition would do the job. But in this case, it's probably better to just do what he's doing.

The CB doesn't have to listen to him, but if they don' they have to put up with the bad publicity, and so they can make their own choice. I think what Rudd is doing is quite clever.
 
ok. i believe it was a good thing the commonwealth increase their interest rates. why? because that means they are getting more money, and they can invest more in shares and crap, which means they make more money., which means they have more money to lend.
also the ppl with the shares get more money, so they can spend more, and thats good !

but it isnt good for the poor as they are paying more interest rates and getting no benefics, and thats why the australian government is telling them they should have done that. because theyre trying to help the poor.
kevin rudd is the death of neo-Liberalism (giving money to the rich. helping the rich more) but i guess the gov is jst trying to make things "easier" on us because of the economic crisis, by saying increasing interest rates is a bad thing.
 
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