Tuesday, November 9, 2010

Australia Interest Rates | Stop moaning about greedy banks

NOTE: I guess Americans are not the only ones upset with banks!

Click title link for full article
Interest Rates | Stop moaning about greedy banks:
"Forgive me if I'm less than impressed by the tirade of righteous indignation being unleashed against the banks. It's self-serving, selective and uninformed.

I guess when you get angry you forget to check things out and think them through. The media and the politicians on both sides are whipping up indignation, rather than conveying information and fostering understanding.

Much of the indignation has assumed that if the Commonwealth Bank has raised its mortgage interest rate by 0.2 percentage points more than the 0.25 percentage-point increase in the official interest rate, the other three big banks are sure to follow suit.">>> keep reading by clicking title link above. 

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