Category Archives: Financial Services

Well Duh

Banks have turned into Big Brother and are snooping through customers’ personal transactions before granting them loans to try and catch out whether they have hidden pets or could be pregnant. Following public pressure from the royal commission, banks are … Continue reading

Posted in Economics and economy, Financial Services | Leave a comment

O’Dwyer Keeps Delivering

What more does Kelly O’Dwyer need to do to show that she’s clearly not qualified for the role of federal government minister? This is her complete disaster of an interview the other day regarding the banking royal Commission, This was TMR smelling … Continue reading

Posted in Federal Politics, Financial Services, Politics | Tagged , | 47 Comments

More silliness on interchange fees II

Following on my discovery last week of intense silliness at the Productivity Commission: Regulation of bank interchange fees and surcharging has proved complex and there is little genuine commercial justification for interchange fees. The Payments System Board of the RBA … Continue reading

Posted in Economics and economy, Financial Services | 13 Comments

Who owns the banks?

This morning Chris Mitchell had a go at the ABC: Business writers who do not understand such things should not be writing in the area. Those who wilfully conflate turnover and pro­fit should be run out of journalism. Alberici is … Continue reading

Posted in Australian Story, Economics and economy, Financial Services | 62 Comments

Banking Royal Commission

A disgraceful waste of money that should eventually find that private business has a profit motive and deadbeats shouldn’t get loaned money. But I suspect not. In the meantime here is some stuff I have written on banking: Submission to … Continue reading

Posted in Financial Services | 87 Comments

The nirvana fallacy and ATM fees

Australians have woken to the news that the hated ATM withdrawal fees have been scrapped. Here is our political class claiming credit: Mr Morrison said the initiative — led by the Commonwealth Bank as it attempts to recover from a series of … Continue reading

Posted in Economics and economy, Financial Services | 16 Comments

Where was the minister?

So politicians are distracting us from their own inadequacies by pointing to poor banking behaviour. The latest “scandal” is Westpac allegedly manipulating the bank rate. If you can’t work out why this is important or even a problem, the AFRs … Continue reading

Posted in Financial Services, Hypocrisy of progressives, Oppressive government | 16 Comments

The Empire Expands

The 4th branch of government, the Administrative Branch, continues its voracious expansion seeking ultimate control.  It has taken the next step and now seeks to administer and regulate thought.  Yes that’s right.  They have taken baby steps towards prosecuting thought crime. … Continue reading

Posted in Financial Services, Freedom of speech, Market Economy | 25 Comments

Gains from agility. From the “you couldn’t make it up” file

h/t Grace Collier today. Pity about the paywall, but read on. Punch the words “Australia Business Financing Centre” into your browser and your mind will boggle at the possibilities. The Australia Business Financing Centre, in its headline, says “Australian Government … Continue reading

Posted in Economics and economy, Financial Services, Mining, Rafe, Shut it down. Fire them all. | 56 Comments

Government officials are not omniscient

Pyrmonter sent me a link to a magnificent Alex cartoon. This captures a sentiment that we see a lot in economic commentary – the view that the monetary authority (and sometimes the Treasury too) is somehow omniscient. That these economic … Continue reading

Posted in Economics and economy, Finance, Financial Services | 4 Comments