Kevin Rudd
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Re: Rudd, I'm pissed off aren't you?
does anyone have the full details on Rudd's switching banks scheme?
http://optuszoo.news.ninemsn.com.au/article.aspx?id=658912&_cobr=optus
apparently it doesn't include mortgage holders?
and fees are still charged if you switch?
What is the point?
Add another flop to Rudd's schemes
does anyone have the full details on Rudd's switching banks scheme?
http://optuszoo.news.ninemsn.com.au/article.aspx?id=658912&_cobr=optus
apparently it doesn't include mortgage holders?
and fees are still charged if you switch?
What is the point?
Add another flop to Rudd's schemes
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Re: Rudd, I'm pissed off aren't you?
Here's some more, yep looks like he's done it again....
http://www.abc.net.au/news/stories/2008/11/01/2407621.htm
Here's some more, yep looks like he's done it again....
http://www.abc.net.au/news/stories/2008/11/01/2407621.htm
prawn_86
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Re: Does Rudd inspire confidence?
The real question should be:
"Does any politician inspire confidence?"
They are all full of crap, liars, cheats etc. You could find the same sort of things for any politician as they are just out to look after themselves
The real question should be:
"Does any politician inspire confidence?"
They are all full of crap, liars, cheats etc. You could find the same sort of things for any politician as they are just out to look after themselves
Julia
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Re: Rudd, I'm pissed off aren't you?
No, it was not poor English on my part. It was incorrect interpretation on yours. I chose to ignore the scintillating repartee between some other participants and my post was purely directed towards you. My suggestion that you were patronising reflected your attitude towards what I had ealier said. But that's fine, Rob. Whatever you say. It's just too tedious to attempt a genuine exchange with you.
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Re: Does Rudd inspire confidence?
Though I do not disagree with your comments, there are some good politicians. It is up to the public to discover that without the help of the media. A tall ask for most.
Though I do not disagree with your comments, there are some good politicians. It is up to the public to discover that without the help of the media. A tall ask for most.
Glen48
Money can't buy Poverty
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Re: Does Rudd inspire confidence?
Research has led to discovery of the heaviest element yet known to
science. The new element, Governmentium (Gv), has one neuron, 25 assistant
neurons, 88 deputy neurons and 198 assistant deputy neurons, giving it an
atomic mass of 312.
These 312 particles are held together by forces called morons, which are
surrounded by vast quantities of lepton-like particles called peons. Since
Governmentium has no electrons, it is inert; however, it can be detected
because it impedes every reaction with which it comes into contact. A
minute amount of Governmentium can cause a reaction that normally takes
less than a second to take as long as 4 years to complete.
Governmentium has a normal half-life of 2-6 years; it does not decay, but
instead undergoes a reorganization in which a portion of the assistant
neurons and deputy neurons exchange places. In fact, Governmentium's mass
will actually increase over time, since each reorganization causes more
morons to become neurons, forming isodopes.
This characteristic of moron promotion leads some scientists to believe
that Governmentium is formed whenever morons reach a critical
concentration. This hypothetical quantity is referred to as critical
morass. When catalyzed with money, Governmentium becomes Administratium,
which has half as many peons but twice the number of morons.
_________________
Unlock your inborn creativity; look for better, faster and easier ways to sell your product or service.
Research has led to discovery of the heaviest element yet known to
science. The new element, Governmentium (Gv), has one neuron, 25 assistant
neurons, 88 deputy neurons and 198 assistant deputy neurons, giving it an
atomic mass of 312.
These 312 particles are held together by forces called morons, which are
surrounded by vast quantities of lepton-like particles called peons. Since
Governmentium has no electrons, it is inert; however, it can be detected
because it impedes every reaction with which it comes into contact. A
minute amount of Governmentium can cause a reaction that normally takes
less than a second to take as long as 4 years to complete.
Governmentium has a normal half-life of 2-6 years; it does not decay, but
instead undergoes a reorganization in which a portion of the assistant
neurons and deputy neurons exchange places. In fact, Governmentium's mass
will actually increase over time, since each reorganization causes more
morons to become neurons, forming isodopes.
This characteristic of moron promotion leads some scientists to believe
that Governmentium is formed whenever morons reach a critical
concentration. This hypothetical quantity is referred to as critical
morass. When catalyzed with money, Governmentium becomes Administratium,
which has half as many peons but twice the number of morons.
_________________
Unlock your inborn creativity; look for better, faster and easier ways to sell your product or service.
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Re: Rudd, I'm pissed off aren't you?
Julia
I responded to most of your points.
You seem more content to wage some personal campaign.
Try substantiating what you present and you might get something more meaty back.
Regrettably there is an anti-Rudd consensus in this thread that has few clues about the real importance of "guarantees". Rudd might have got a better outcome first up if he had a few more weeks to get everyone's input and have stronger legislation in place. But Turnbull backed what Labor put to parliament, without amendment - so his later cries had a hindsight retrospective.
As for the claim of massive financial market dislocation, most have blocked out what was happening globally and how it was already impacting locally. The guarantee prevented a run on the banks and ensured all trade deals would happen unhindered.
I have yet to hear a good argument from detractors of Rudd.
Even when mortgage funds froze withdrawals and Labor said to those who might be suffering to go to Centrelink, what was Turnbull's solution?
He had none, except to suggest it was a callous response.
Mortgage fund investors go into the market expecting better than bank interest returns because they are willing to wear the risk. But as we just discovered, when things go sour they expect government to bail them out.
Market linked investments deserve no favours and investors who don't understand risk should do something else with their money, or not bother complaining when times get tough.
Julia
I responded to most of your points.
You seem more content to wage some personal campaign.
Try substantiating what you present and you might get something more meaty back.
Regrettably there is an anti-Rudd consensus in this thread that has few clues about the real importance of "guarantees". Rudd might have got a better outcome first up if he had a few more weeks to get everyone's input and have stronger legislation in place. But Turnbull backed what Labor put to parliament, without amendment - so his later cries had a hindsight retrospective.
As for the claim of massive financial market dislocation, most have blocked out what was happening globally and how it was already impacting locally. The guarantee prevented a run on the banks and ensured all trade deals would happen unhindered.
I have yet to hear a good argument from detractors of Rudd.
Even when mortgage funds froze withdrawals and Labor said to those who might be suffering to go to Centrelink, what was Turnbull's solution?
He had none, except to suggest it was a callous response.
Mortgage fund investors go into the market expecting better than bank interest returns because they are willing to wear the risk. But as we just discovered, when things go sour they expect government to bail them out.
Market linked investments deserve no favours and investors who don't understand risk should do something else with their money, or not bother complaining when times get tough.
Whiskers
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Re: Rudd, I'm pissed off aren't you?
Putting the degree of the Bank guarantee aside for the moment, isn't this the pertinent point.
Personally I've steered away from that sort of investment just because I don't like the idea of the fund having the perfectly legal right to freeze redemptions at their descretion.
The funds simply can't be expected to cash out a large proportion of those assets at once... hence the higher long term return, risk and descretion to freeze redemptions.
At the end of the day, if no Aus funds fail, those investors have still got what they set out to achieve.
I heard a press report that about 10 funds had already frozen redemptions before the Gov gave the Bank guarantee. Can someone confirm what the number was?
Wouldn't there still have been some sort of a run on funds even with the guarantee set at 100,000? ... and likely more funds were going to freeze redemptions anyway, until the crisis subdued?
Putting the degree of the Bank guarantee aside for the moment, isn't this the pertinent point.
Personally I've steered away from that sort of investment just because I don't like the idea of the fund having the perfectly legal right to freeze redemptions at their descretion.
The funds simply can't be expected to cash out a large proportion of those assets at once... hence the higher long term return, risk and descretion to freeze redemptions.
At the end of the day, if no Aus funds fail, those investors have still got what they set out to achieve.
I heard a press report that about 10 funds had already frozen redemptions before the Gov gave the Bank guarantee. Can someone confirm what the number was?
Wouldn't there still have been some sort of a run on funds even with the guarantee set at 100,000? ... and likely more funds were going to freeze redemptions anyway, until the crisis subdued?
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Re: Rudd, I'm pissed off aren't you?
Not to mention the anti Turnbull snipers too.
Thus protecting the system so as it could continue functioning in a way that is not - now - free from Government intervention. (not just Australia)
Yes, a lot like to party when it is going well. But who should they blame when is goes sour?
Glen48
Money can't buy Poverty
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Re: Does Rudd inspire confidence?
Ch 7 today reports Rudd is telling us the economy will get "Ugly"???
Can any one tell me if that means thing are going to get worser or gooder
than now?
Ch 7 today reports Rudd is telling us the economy will get "Ugly"???
Can any one tell me if that means thing are going to get worser or gooder
than now?
Glen48
Money can't buy Poverty
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Re: Does Rudd inspire confidence?
Had a cartoon in the Courier Mail with Rudd sitting at a table alone and Fund manager huddled at another table, the waiter comes over and tells Rudd this is from from the Managers and hands him a Chocolate coloured Ice cream..
Let em eat cake is now let em eat Ice Cream.
Had a cartoon in the Courier Mail with Rudd sitting at a table alone and Fund manager huddled at another table, the waiter comes over and tells Rudd this is from from the Managers and hands him a Chocolate coloured Ice cream..
Let em eat cake is now let em eat Ice Cream.
Re: Rudd, I'm pissed off aren't you?
What worries me, why banks are allowed to make profit after they are propped up with taxpayers money?
Shouldn’t Kev force banks that all profit is paid back to taxpayers?
Shouldn’t CEOs take pay cut and pay back last few years bonuses?
What worries me, why banks are allowed to make profit after they are propped up with taxpayers money?
Shouldn’t Kev force banks that all profit is paid back to taxpayers?
Shouldn’t CEOs take pay cut and pay back last few years bonuses?
Julia
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Re: Rudd, I'm pissed off aren't you?
The guarantee is very unlikely to ever be required to be put into practice.
The banks haven't been propped up with tax payers' money.
The guarantee is very unlikely to ever be required to be put into practice.
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Whiskers
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Re: Rudd, I'm pissed off aren't you?
As seen from recent Aus bank profit announcements, they were operating quite profitably and were quite liquid as per div announcements.
So in the normal course of events Aus banks were not in any sort of trouble... unless there was a hysterical run to withdraw deposits. The whole point of the guarantee was to restore confidence in the Banking system to prevent such a run.
From the perspective of confidence in other Aus investment institutions, eg mortgage funds, I think Turnbull contributed to that lack of confidence by withdrawing some of his cash from such funds on advice that the fund was not performing well, and this helped fuel the public hysteria about guaranteeing those funds as well.
After all it's not a good look when the country's second most senior politican withdraws a lot of cash from a fund and tries to assure the public that all is fine. I think he painted himself into a corner in that respect... he could hardly argue that the funds were safe after withdrawing his cash, or to extend the guarantee to them, hence his somewhat illogical political stance and lot of noise about the size of the bank guarantee... which I think was more about saving (political and personal) face at the expense of further fueling uncertainty and hysteria in the community
As seen from recent Aus bank profit announcements, they were operating quite profitably and were quite liquid as per div announcements.
So in the normal course of events Aus banks were not in any sort of trouble... unless there was a hysterical run to withdraw deposits. The whole point of the guarantee was to restore confidence in the Banking system to prevent such a run.
From the perspective of confidence in other Aus investment institutions, eg mortgage funds, I think Turnbull contributed to that lack of confidence by withdrawing some of his cash from such funds on advice that the fund was not performing well, and this helped fuel the public hysteria about guaranteeing those funds as well.
After all it's not a good look when the country's second most senior politican withdraws a lot of cash from a fund and tries to assure the public that all is fine. I think he painted himself into a corner in that respect... he could hardly argue that the funds were safe after withdrawing his cash, or to extend the guarantee to them, hence his somewhat illogical political stance and lot of noise about the size of the bank guarantee... which I think was more about saving (political and personal) face at the expense of further fueling uncertainty and hysteria in the community
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Re: Rudd, I'm pissed off aren't you?
where did the 4 plus Billion come from that has been injected into the big 4 recently then ?
http://www.businessspectator.com.au...-cash-into-market-JX6SY?OpenDocument&src=srch
http://www.businessspectator.com.au...-to-cushion-banks-JY2JN?OpenDocument&src=srch
http://www.businessspectator.com.au...funds-into-market-JZ55H?OpenDocument&src=srch
i may have it all wrong and would appreciate some guidance if my take on the RBA is wrong
where did the 4 plus Billion come from that has been injected into the big 4 recently then ?
http://www.businessspectator.com.au...-cash-into-market-JX6SY?OpenDocument&src=srch
http://www.businessspectator.com.au...-to-cushion-banks-JY2JN?OpenDocument&src=srch
http://www.businessspectator.com.au...funds-into-market-JZ55H?OpenDocument&src=srch
i may have it all wrong and would appreciate some guidance if my take on the RBA is wrong
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