Royal Commission result:

[Valkie]

Our idiot grubberment have thrown away a perfect opportunity.

It could be so simple.

To atone for their sins, the banks and financial industry should be made to construct a huge catchment and pumping system
To capture and pump wasted water from QLD to parts of Australia desperate for water.

Call it community service
Call it an act of good will

But make them do something worthwhile.

The primary benefit is tgat no political party could lay claim to it and, because it will take quite a few years, the cowardly grubberment woukd not have to worry about who was in power when it was finished.

[Bobby]

Here's what you need to know about banks... Cost recovery.

Illgotten gains forgone will be required to be recovered from elsewhere...

The banks were hit with a wet lettuce leaf.

[sprintcyclist]

Here's what you need to know about banks... Cost recovery.

Illgotten gains forgone will be required to be recovered from elsewhere...

The banks were hit with a wet lettuce leaf.

yes

[Gordon]

People should be more financially literate and take responsibility for their finances.

Morons always need somebody to blame.

[Bobby]

People should be more financially literate and take responsibility for their finances.

Morons always need somebody to blame.

Some people are morons - they take out loans
which simple arithmetic says they cannot pay off.
However it should be the job of the bank
or loan broker to tell them.
When people in the finance industry get paid
commission on the number of morons
they stitch up then that is the problem.

[Black Orchid]

I don't mind if brokers get a commission on the original deal but certainly not for the life of the mortgage.

[Bobby]

I don't mind if brokers get a commission on the original deal but certainly not for the life of the mortgage.

I agree.
A loan broker helped me once - a long tome ago -
to get my foot into the market.
I never looked back.

[Gordon]

I don't mind if brokers get a commission on the original deal but certainly not for the life of the mortgage.

I agree.
A loan broker helped me once - a long tome ago -
to get my foot into the market.
I never looked back.

I've had a mortgage broker get me 1% lower than I could directly negotiate with the bank. I go a discount but the broker got the beat possible rate. In that case, why would I care what commission he gets?

Plus some are magicians at arranging loans for lo-doc applicants .

[Neferti]

Some people only think that they are the smartest person on the block. Fiddling around with "shares" and so forth. If you haven't a clue ... don't do it.

When I was about to retire, I sought the opinion of a Financial Adviser and he actually praised me because I had already thought it through and just wanted confirmation that I was "on the right track".

[Bobby]

I don't mind if brokers get a commission on the original deal but certainly not for the life of the mortgage.

I agree.
A loan broker helped me once - a long tome ago -
to get my foot into the market.
I never looked back.

I've had a mortgage broker get me 1% lower than I could directly negotiate with the bank. I go a discount but the broker got the beat possible rate. In that case, why would I care what commission he gets?

Plus some are magicians at arranging loans for lo-doc applicants .

Loan brokers can very handy to know if you're not all cashed up.