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clock Created with Sketch. 23/04/18
08:19
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Originally posted by bunny12
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Bank bashing ! Much of the indiscretions by the big 4 have been done at managerial levels and individuals, I have not seen where bank Policy per se has been responsible for clients loss. The Banking system did change dramatically with the introduction off deregulation under the Hawke/Keating era. We then had an influx of overseas Banks trying to get a foothold, building societies prospered and fly by night lending institutions flourished. Our Big 4 held their ground, though only just, Westpac nearly folded with their foray into high rise office construction and NAB the hallmark Bank crashed with their foray into the USA. The lesson from that is, stick at what you do best. Banks put their investment and loan portfolios into "Investment Advisers", paid a salary and a large commissions and herein lies the problem. The Banks hierarchy only looked at the bottom line, huge profits and did not question the means. I find it hard to censure the Banks when the old adage "Buyers Beware", or "Caveat Emptor". By all means sue the rectum off the Banks if you can but don't borrow or invest if you are a MUG.
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" I find it hard to censure the Banks when the old adage "Buyers Beware", or "Caveat Emptor". By all means sue the rectum off the Banks if you can but don't borrow or invest if you are a MUG. "
Who are the auditors for the big four banks?
The first in line to be sued must surely be the auditors .
http://www.afr.com/business/account...ig-four-accounting-businesses-20180325-h0xxor Raider
