Monopoly money…

11th June 2012. With the four major banks in Australia having over 80% of the business, an effective monopoly held in place by regulation, I fail to see how the Reserve Bank and politicians can continue to talk about bank competition. This monopoly diminishes the assets and incomes of other Australians by charging an estimated seven times greater for their services than it is worth.

‘What is the robbing of a bank compared to the founding of a bank’

2 thoughts on “Monopoly money…

  1. Mark says:

    This is why I got a Credit Union account many years ago, low fees, real people on the phones, real help when you need it and your initial deposit makes you on of the shareholders.

    Works well for me.

    Oh yes, and no high and mighty (yet near minimum pay) bank workers looking down their nose at you when you try to do business with them.

  2. Mark says:

    Not a comment but a question, I saw this follow quote on Facebook – is it true:

    new law in Western Australia sucks mega balls, the right to pull you over for no reason, search ur car even make u open the boot and locked compartments and if you have a phone on you they have the right to dial the last 3 numbers for checks and look at u

Leave a Reply