Knobby, you are misinterpreting that article in the context of Nioka's original post.
Yes, the government did remove the wholesale funding guarantee.
That was where the government stood behind the banks and other institutions' wholesale borrowings on the international money market.
It had nothing to do with the retail depositors' guarantee.
This is still in place, until, I think mid next year, maybe even to October 2011.
Yes, the smaller institutions did have to pay a higher % to the government for this guarantee, rightly so imo, as they don't have the fundamental basis that the big four do.
It was actually a good thing for retail depositors, as the smaller institutions offered higher retail deposit rates in an attempt to source their funds locally rather than pay the higher rate to government for the guarantee, as well as higher international funding on the financial markets.
There is considerable pressure on the government to continue the retail deposit guarantee after the current expiry date, or provide some substitute reassurance to retail depositors that their funds are safe.
I think we are getting off topic here. If Joe Hockey and the banks merits so much discussion, shouldn't we open a thread for him/them "Can Joe Hockey add up?"; "When is an Audit not an Audit?"; "How much bank profits can the public support?"; and "Where will the banks turn for a profit after the public have nothing left to give?"
Agree.
Compared to the First Bloke's Partner, Tony has all the gravitas, knowledge, nouse and wit to be our next Prime Minister.
I really cannot see any alternative, and having watched JWH on Qanda, it reinforces my opinion that we haven't had a conviction PM since his political demise.
Tony A will be our next PM.
gg
Your true colours showing GGyour political radar is way off as usual.
1 vote Tony wont lead the coalition into the next election, and will never be PM...there's just no way he could get voted in with all his quirks and suspect mannerisms regardless of his policy's etc, and regardless of anything else that may happen.
(I've added this page to my favourites for future reference)
Your true colours showing GGyour political radar is way off as usual.
1 vote Tony wont lead the coalition into the next election, and will never be PM...there's just no way he could get voted in with all his quirks and suspect mannerisms regardless of his policy's etc, and regardless of anything else that may happen.
(I've added this page to my favourites for future reference)
...1 vote Tony wont lead the coalition into the next election, and will never be PM...there's just no way he could get voted in with all his quirks and suspect mannerisms regardless of his policy's etc, and regardless of anything else that may happen....
Agree. And at the current Vietnam talkfest Ms Gillard appears to be confirming her confessed discomfort on the international scene. She looks awkward and lacking in confidence, especially alongside Hillary Clinton.Leadership talent is lacking on both sides. However, as we only have the choice of two at this stage, I reckon Tony is far less annoying than the current PM if we are going to measure them by "quirks and suspect mannerisms".
And the First Bloke, poor chap, looks like a stunned mullet.
Might be best to leave him at home next time.
Agree. And at the current Vietnam talkfest Ms Gillard appears to be confirming her confessed discomfort on the international scene. She looks awkward and lacking in confidence, especially alongside Hillary Clinton.
And the First Bloke, poor chap, looks like a stunned mullet.
Might be best to leave him at home next time.
Janette Howard is every bit as politically savvy as her husband.Howards Mrs got away with it
Agree. And at the current Vietnam talkfest Ms Gillard appears to be confirming her confessed discomfort on the international scene. She looks awkward and lacking in confidence, especially alongside Hillary Clinton.
And the First Bloke, poor chap, looks like a stunned mullet.
Might be best to leave him at home next time.
Janette Howard is every bit as politically savvy as her husband.
I don't know who her first bloke was, but Dr.Craig Emmerson was there before Tim Matherson.
If you want to see how tough, even bloody-minded you have to be to get to the top in banking, have a look at the CEO of ANZ. It was pointed out that he earns $50k each day. While a good many of the banks customers struggle to make that much in a year.Joe is nowhere near as bad as some of you are painting him. Suggest an alternative if you don't like Hockey as opposition treasurer...
If you want to see how tough, even bloody-minded you have to be to get to the top in banking, have a look at the CEO of ANZ. It was pointed out that he earns $50k each day. While a good many of the banks customers struggle to make that much in a year.
Well Hockey is starting to cut through here with his 9-point plan. Why should the banks be immune to examination (this talk of possible 'signalling' and the like). Is it any different than if (hypothetically) Caltex, Mobil, Shell etc were 'signalling' to each other on petrol prices? The big four banks have a cosy arrangement, and the GFC knocked out a lot of the smaller, nimbler competitors.
Even rumbles about a super profits tax, the banks must be aghast.
Remember this, the big four are now 'too big to fail'. If they ever looked like failing - guess whose tax dollars would be used in the resue package! So I want value for my donation to their rescue fund.
Attack the banks
In fairness, Gillard's reputation for honesty is miles ahead of John Howard. His own party dubbed him "Honest John" well before he became PM for this reason.OK - let's compare him to the current leader. She has a grating, droning voice and uses more handsignals than a traffic cop. It's extremely annoying. She has apparently had membership to the communist and fabian parties. Not what a lot of Aussies want, as I understand. She has a reputation for renegging on promises. I can't see that Tony's speech issues or other quirks would be an issue...
Agree with the bolded bit but as bad as Gillard/Swan is, Abbott/Hockey is just another level of terrible.Leadership talent is lacking on both sides. However, as we only have the choice of two at this stage, I reckon Tony is far less annoying than the current PM if we are going to measure them by "quirks and suspect mannerisms".
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