More Give and Less Take...who is NAB kidding?

In view of recent events, it's interesting to consider some of the bank slogans.  NAB for example has introduced "More Give and Less Take".  I guess opinions will vary and depend very much on whether you perceive the glass to be 'half full OR half empty'.  NAB obviously perceive the glass to be half full AND it's not that difficult to justify.  By 'More Give' NAB obviously means:  we GIVE you far more stress than we have in the past because we increase interest rates without justification AND fail to correct computer problems in an timely manner.  By 'Less Take' NAB obviously means:  we TAKE far less crap from you when you're unhappy with our service.  

The conclusion...an excellent slogan NAB and an even better interpretation above (even if I do say so myself)!

 

Next we have CBA who's slogan is "Determined to be Different" AND they certainly are (different that is).  They are the first to increase interest rates and come up with some lame excuse to justify doing so...well done Ralph Norris.  At least Ralph could tell the truth and tell us what we already know - CBA wants to increase profits (and Ralph's bonus of course).

I could go on, however I'm making myself depressed.  Merry Christmas to the 'BIG 4', oh and let's not forget the Reserve Bank - well done guys in raising interest rates because the economy might grow sometime in the future...oh dear, here I go again.  This is supposed to be a happy time of year.

Have a very safe and happy Christmas and a very prosperous 2011.

A New Definition For ‘Bank’ – totally out of touch AND downright greedy!

There is a new definition for the word ‘Bank’…out of touch, uncaring and greedy!  OR maybe it’s now so new.  If you read the media release issue by the Reserve ‘Bank’ (click the link below), it goes to prove just how out of touch these people are.  The media release reads like a university lecture in Economics 101.  What these people fail to address is existing ‘real world’ implications – the increasing struggle of many folks just to maintain mortgage payments (let alone the impending increase).  AND this has a follow-on impact on all of us.

 

Media Release – 2 November 2010

 

http://www.rba.gov.au/media-releases/2010/mr-10-26.html

 

AND that’s only half the problem.  As you are no doubt aware, the CBA increased its interest rates by an additional 0.20% taking the total increase to 0.45%.

 

Just consider comments by AFG managing director Brett McKeon where he identifies its mortgages are down by 17.5% from the same time last year due to (in his opinion) ordinary folks concerns about rising interest rates.  AND what is the Australian Government doing about it?  Pretty much allowing the big 4 banks to get stronger by allowing takeovers and (let’s not forget) providing lots of rhetoric about how they intend to monitor the banks…in other words – they are doing nothing except make things worse!

If I were a betting man (and I'm not), I would put good money on Westpac being the next of the 'Big 4' to raise rates...mainly because they just announced an after tax profit of in excess of $6.3 billion (they really are struggling).  The announcement will more than likely occur on a Friday so we have the weekend to get over the shock.

 

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