Kevin Rudd

[nunthewiser]

Re: Rudd, I'm pissed off aren't you?

Both the Reserve Bank of Australia (RBA) and the Future Fund (FF) have helped major banks with funding through the credit crisis. Without government assistance, banks would have been forced to raise interest rates higher than they already have, to compensate for the rising costs of funding. ABN Amro economists revealed in mid-July 2008 that the RBA has provided $A21 billion of additional funding to the banks through repurchase agreements. In April the Future Fund, designed to invest in the sharemarket, held $A35 billion in bank deposits, which is 4% of all bank deposits in Australia


http://www.businessspectator.com.au...ride-credit-storm-GJ2GZ?OpenDocument&src=srch

 

[Whiskers]

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

Good to see yer still around Nun.

Probably a bit of a technicality or academic point, Nun... but the RBA just did what it often does, only a bit more heavily this time. This sort of thing happens quite often, but usually doesn't make headlines.

So I suppose technically the tax payer helped prop them up but it's not as though the RBA or Gov was giving them a hand out. This RBA liquidity funding is repaid to the RBA.

 

[treefrog]

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.

not according to ABA, who cited overseas borrowings/investments as the main reason:- without ozzie govt guaranteeing deposits they were going elsewhere and Oz banks were very concerned their access to funds would continue to dry up - also the reason for the unlimited guarantee rather than a cap.

 

[Julia]

Re: Rudd, I'm pissed off aren't you?

I dont understand how this point is relevant?

The guarantee we were talking about is that on deposits. The government have not been required to pay any of the banks any tax payer dollars because the banks have been unable to honour deposits. It was a move to shore up confidence at a time when there was considerable (unjustified) anxiety about how safe depositors' funds were in the banks.

And if by some extraordinary event the banks were unable to honour deposits then, yes, the government would have to honour their promise and come to the rescue.

This is a completely separate issue from the normal (and extra) funds which flow between the RBA and the banks.

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

The guarantee we were talking about is that on deposits. The government have not been required to pay any of the banks any tax payer dollars because the banks have been unable to honour deposits. It was a move to shore up confidence at a time when there was considerable (unjustified) anxiety about how safe depositors' funds were in the banks.

And if by some extraordinary event the banks were unable to honour deposits then, yes, the government would have to honour their promise and come to the rescue.

This is a completely separate issue from the normal (and extra) funds which flow between the RBA and the banks.

If everyone did want their money of course the banks would default because the simply havent got it.

 

[rederob]

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.

Julia
You declared some remarks I made as "patronising". As you highlighted the specific remarks in question, I responded by saying they were made by me "contemptuously".
As these were my remarks, I know the sense in which they were made.
For you to suggest I misinterpreted my own remarks again shows your poor comprehension skills.
As for a genuine exchange, your attitude is totally disingenuous in this arena.
I have elaborated my points whereas you have simply regurgitated the odd fact along with party political lines that simply don't hold water.
If you don't have the guts to get involved in a proper debate on the issues, don't pretend it's all too hard and wrap it in a personal affront.

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

Julia
You declared some remarks I made as "patronising". As you highlighted the specific remarks in question, I responded by saying they were made by me "contemptuously".
As these were my remarks, I know the sense in which they were made.
For you to suggest I misinterpreted my own remarks again shows your poor comprehension skills.
As for a genuine exchange, your attitude is totally disingenuous in this arena.
I have elaborated my points whereas you have simply regurgitated the odd fact along with party political lines that simply don't hold water.
If you don't have the guts to get involved in a proper debate on the issues, don't pretend it's all too hard and wrap it in a personal affront.

LOL You are an offensive piece of work arent you.

 

[Whiskers]

Re: Rudd, I'm pissed off aren't you?

LOL You are an offensive piece of work arent you.

:topic

Lol... on another thread someone nominated me for the 'stirrer' award. I think you have out qualified me, MrBurns. :

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

:topic

Lol... on another thread someone nominated me for the 'stirrer' award. I think you have out qualified me, MrBurns. :

I only stir when provoked and the verbal diarrhoea that is thrown at some people in here is at best a gutless effort by those who choose to hide behind a computer screen.

 

[moXJO]

Re: Rudd, I'm pissed off aren't you?

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?

Umm I thought he mentioned to Lower the cap to stop the flow. Unlimited cap just meant all the cash was heading into the banks.

 

[rederob]

Re: Rudd, I'm pissed off aren't you?

LOL You are an offensive piece of work arent you.

I can do it without trying.
You - trying?

 

[LM]

Re: Rudd, I'm pissed off aren't you?

I only stir when provoked and the verbal diarrhoea that is thrown at some people in here is at best a gutless effort by those who choose to hide behind a computer screen.

Irony?

 

[nunthewiser]

Re: Rudd, I'm pissed off aren't you?

Irony?

LOL im not too good with the engrish language but my thoughts were of the word " hypocrisy"

 

[nunthewiser]

Re: Rudd, I'm pissed off aren't you?

thanks whiskers for your thoughts and reply

 

[Joe Blow]

Re: Rudd, I'm pissed off aren't you?

Ladies and gentlemen, can we please stick to the topic at hand?

I am concerned that this thread is becoming increasingly personal when there is no need for it to go down that road. Can we please get it back on topic and stick to the issues.

I understand that political threads can get a bit heated at times but there is absolutely no need for personal attacks.

Thank you for your co-operation.

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

LOL im not too good with the engrish language but my thoughts were of the word " hypocrisy"

One last word of clarification, if you care to look at my posts you will see that I only abuse the Govt who deserve it , I never target anyone in here unless they target me first with the possible exception of my response to rerob to his post aimed at Julia.

 

[nunthewiser]

Re: Rudd, I'm pissed off aren't you?

OK , heres my 2 cents ......... how the heck can the current labour goverment be blamed for the current financial mess australia is in ? did they stuff it up in the short time they have been in power OR was they just passed a hot potatoe from the previous liberal goverments mismanagement?

is the rudd goverment just trying to deal with the cards its been dealt ?
what choice did they have re the bank deposit guarantees ? let the crowds withdraw there deposits and let them fall ?

i DO however disagree with the increase in the FHOG and think this was an irresponsible piece of pumping an overinflated ballon But in the same sense the building industry and ALL its arms ie materials etc etc will be kept floating along with the employment it creates and if you look at the numbers it employs a lot of ppl from the humble site cleaner to the ppl that build them to the ppl that manufacture the materials INCLUDING our miners which dig up the raw materials , the timber industry , the list is endless .

I did not vote labour , i did not vote liberal, i have no preference actually as they both tend to leave a pile of poo that the next one in power gets blamed for . BUT i cannot believe that the current Gov can be blamed in the manner that it has here for the pile of poo it currently has to wade thru


vote nuns for goverment!

 

[rederob]

Re: Rudd, I'm pissed off aren't you?

One last word of clarification, if you care to look at my posts you will see that I only abuse the Govt who deserve it , I never target anyone in here unless they target me first with the possible exception of my response to rerob to his post aimed at Julia.

You could try responding to rebuttals with something at least worthy of your thread's title.
Being pissed of with a decision of government - or of Rudd in this thread - is par for the course.
Understanding the context of the decision or statement might prove enlightening.
I am more than happy to argue the toss where I think people who could know better, either don't know, don't want to know, or don't know they don't know!

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

You could try responding to rebuttals with something at least worthy of your thread's title.
Being pissed of with a decision of government - or of Rudd in this thread - is par for the course.
Understanding the context of the decision or statement might prove enlightening.
I am more than happy to argue the toss where I think people who could know better, either don't know, don't want to know, or don't know they don't know!

I'm not interested in using this forum to your rules and specifications, nor is anyone else I dare say, control freaks not wanted.

If I dont like Rudd I'll say so and I think I usually say why, if thats not good enough bad luck.

If you abuse me for not answering to your satisfaction you will get a verbal smack in the mouth, fair enough ?

Now back on topic, Rudd is hopeless isn't he............?

 

[nunthewiser]

Re: Rudd, I'm pissed off aren't you?

i see no one can adress my post , but prefer to beech and moan at each other instead .

my post wasnt that hard was it ?