Why is the media so fixated on mortgage holders? More concerning is how much power the Big Four banks now hold over the economy, and how SMEs are struggling to get finance.
Big four
ANZ out-gouges the NAB
Like the NAB, the ANZ has survived the financial crisis looking rudely health. Which is impressive, considering it suffered more damage from self-inflicted lending disasters than any of the Big Four.
Housing: the market continues to astound
The most obvious problem with the first-home-owner’s grant is that it doesn’t actually benefit home buyers, since most recipients of the grant will probably be in competition with each other.
Big banks grow fatter at taxpayer expense
The Federal Government’s guarantee for Australian bank deposits and borrowings has done its work. It’s time to scrap it.
If you thought RBA rate cuts saved you money, think again
A little known fact: when the RBA cuts rates, the Big Four don’t pass those cuts on to customers automatically for up to a year. So much for stimulating the economy, writes David Langsam, editor of Biotech Daily.
How to re-design the Australian banking sector
Now that we have established that banks can’t fail in Australia, we need to redesign the regulatory environment. Glenn Dyer offers some thoughts to kick off the conversation.
Aussie Banks are crying poor but spending big
In a time of severe economic turmoil, when banks can’t afford to pass on in-full a rate cut, they shouldn’t be allowed to buy up their competitors, argues Glenn Dyer.
Eslake: Why Australian Banks are standing strong
Crikey asked Saul Eslake, Chief Economist with the ANZ Bank, to detail why Australia’s financial giants are in a more comfortable position than their international counterparts.
