Comments on: Will brutal CommBank put Centro under on Monday? http://www.crikey.com.au/2008/12/12/will-brutal-commbank-put-centro-under-on-monday/ now with extra source Sun, 22 Nov 2009 06:44:24 +1100 http://wordpress.org/?v=2.8.6 hourly 1 By: dews http://www.crikey.com.au/2008/12/12/will-brutal-commbank-put-centro-under-on-monday/#comment-8269 dews Thu, 01 Jan 1970 10:00:00 +0000 #comment-8269 How can you possibly write this and be a director? Are you a crook? Or an idiot? How can you possibly write this and be a director? Are you a crook? Or an idiot?

]]> By: John M http://www.crikey.com.au/2008/12/12/will-brutal-commbank-put-centro-under-on-monday/#comment-8270 John M Thu, 01 Jan 1970 10:00:00 +0000 #comment-8270 "If Commonwealth Bank pulls the plug on Centro next Monday, I'm going to run for their board next year on a platform that they stop being the most brutally unsympathetic bank in the distressed Australian market." <br /><br />Good luck with that, Stephen. Also, would you consider yourself a success if CBA became the _second_ most unsympathetic bank. <br /><br />The banks are merely repeating on a large scale what they have always done to small business and householders. I lost a small business in the recession we had to have. Goodbye house, cars, business etc. I tried negotiating with creditors, with limited success, and none with banks. I was bankrupted by a t_rd in a government department. The banks got nothing, rather than something. One bank's finance company arm had a guarantee over a car loan from my wife (well, it _was_ her car). They accepted 20% of the balance after they sold it at auction.<br /><br />Now, I'm not crying in my beer and it's not going to happen to me again. The fact remains that had banks etc been more reasonable, there would have been a better result for everyone (not least of all, me.) I was not the only one in this situation and indeed many of my creditors went belly up, including some financial institutions. <br /><br />It appears they have learned nothing. The repercussions of a total Centro failure will spread very widely, not least of which to the Super funds.<br /> “If Commonwealth Bank pulls the plug on Centro next Monday, I’m going to run for their board next year on a platform that they stop being the most brutally unsympathetic bank in the distressed Australian market.”

Good luck with that, Stephen. Also, would you consider yourself a success if CBA became the _second_ most unsympathetic bank.

The banks are merely repeating on a large scale what they have always done to small business and householders. I lost a small business in the recession we had to have. Goodbye house, cars, business etc. I tried negotiating with creditors, with limited success, and none with banks. I was bankrupted by a t_rd in a government department. The banks got nothing, rather than something. One bank’s finance company arm had a guarantee over a car loan from my wife (well, it _was_ her car). They accepted 20% of the balance after they sold it at auction.

Now, I’m not crying in my beer and it’s not going to happen to me again. The fact remains that had banks etc been more reasonable, there would have been a better result for everyone (not least of all, me.) I was not the only one in this situation and indeed many of my creditors went belly up, including some financial institutions.

It appears they have learned nothing. The repercussions of a total Centro failure will spread very widely, not least of which to the Super funds.

]]> By: Dr Harvey M Tarvydas http://www.crikey.com.au/2008/12/12/will-brutal-commbank-put-centro-under-on-monday/#comment-8271 Dr Harvey M Tarvydas Thu, 01 Jan 1970 10:00:00 +0000 #comment-8271 <br />Go Stephen go, I'll help you if I can.<br />Its not that they do business in there special way taking advantage of their power first in setup and then again in breakup but also in training and policy approaches where, when methods to victimise customers can be NOT written down on one single doc it will include outright lies and deliberate cheating then the victims will include innocent staff who have been taught not to see it that way. Two parts of a method done by different staff each feeling right about their bit but the parts together are unashamedly lying and cheating.<br />That's a more sinister conflictS of interestS.<br /> Go Stephen go, I’ll help you if I can.
Its not that they do business in there special way taking advantage of their power first in setup and then again in breakup but also in training and policy approaches where, when methods to victimise customers can be NOT written down on one single doc it will include outright lies and deliberate cheating then the victims will include innocent staff who have been taught not to see it that way. Two parts of a method done by different staff each feeling right about their bit but the parts together are unashamedly lying and cheating.
That’s a more sinister conflictS of interestS.

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