Write to your bank

[jet328]

Just the principle of the thing. Just making the point that I liked this $4 billion injection into non-banks because banks have spent the whole year trying to squeeze out non-bank lenders.

I sure hope you're not a business teacher

Business 101- if you want to 'squeeze' someone out, you use your competitive advantage eg. lower cost base to drive prices to a level where the competition cannot sustain its business model

If the banks wanted to squeeze out the non-bank lenders they WOULDN'T have moved independently of the RBA. This would have put much greater pressure on the non-banks as their cost of funds is much higher.

On the one hand you're complaining that banks have their rates too low so that the non-banks can't compete and on the other hand you're writing letters demanding the pass on any RBA changes(which actually does squeeze the non-banks)
Which way is it? or are you just a serial complainer

Yes yes yes, I understand the mechanics of the crunch...

I seriously doubt this

 

[Julia]

I sure hope you're not a business teacher

Business 101- if you want to 'squeeze' someone out, you use your competitive advantage eg. lower cost base to drive prices to a level where the competition cannot sustain its business model

If the banks wanted to squeeze out the non-bank lenders they WOULDN'T have moved independently of the RBA. This would have put much greater pressure on the non-banks as their cost of funds is much higher.

On the one hand you're complaining that banks have their rates too low so that the non-banks can't compete and on the other hand you're writing letters demanding the pass on any RBA changes(which actually does squeeze the non-banks)
Which way is it? or are you just a serial complainer



I seriously doubt this

Good post. Says it all really.

Brad, maybe time for a bit of a rethink on attitude?
You're not usually unreasonable.

 

[Smurf1976]

PS........ as far as the borrowings are concerned , i am currently fortunate to have cash more than easy enuff to cover said development but still i borrowed , am i being irresponsible ? have i causedd the credit meltdown? will i go to hell because i use my funds as i see fit ?

No, you won't go to hell. It's your money and your right to do with it as you wish. It's none of my business what you do.

Just as it's the bank's right to do as they wish. If they want to charge 8%, 10% or even 100% then it's their right to do so. It's none of your, or my, business what they do.

Of course, if you think something needs to be done about banks and interest rates then it follows that you're happy for something to be done about the reckless spending of many consumers. Can't have it both ways...

 

[nunthewiser]

No, you won't go to hell. It's your money and your right to do with it as you wish. It's none of my business what you do.

Just as it's the bank's right to do as they wish. If they want to charge 8%, 10% or even 100% then it's their right to do so. It's none of your, or my, business what they do.

Of course, if you think something needs to be done about banks and interest rates then it follows that you're happy for something to be done about the reckless spending of many consumers. Can't have it both ways...

um i think your quoting the wrong fella mr smurf , scroll back , im happy to pay my intrest payments no matter what they currently slugging me , havent complained anywhere , all part of doing business.

 

[BradK]

Errr... sorry for the brain explosion last night. Hopefully the mods will clean this thread up a bit.

Julia, you will be glad to know that I have changed my attitude to this whole thing. I have decided to go book an appointment with the manager and remortgage WITH A BANK... so I can have that plasma tv instead of spending too much time posting here... and I think I will take another European vacation... after all, I think we are in for another 10% rise on the house this year, so... it practically pays for itself, doesn't it?



Brad

 

[Julia]

E
Julia, you will be glad to know that I have changed my attitude to this whole thing. I have decided to go book an appointment with the manager and remortgage WITH A BANK... so I can have that plasma tv instead of spending too much time posting here...

Hey Brad, forget the plasma TV. I'm sure we can offer you much superior entertainment on ASF!

 

[BradK]

Hey Brad, forget the plasma TV. I'm sure we can offer you much superior entertainment on ASF!

Yes, but I AM the entertainment! That's no fun!

Brad :