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Why Australian banks are standing strong : Comments
By Saul Eslake, published 8/10/2008Australian banks have generally avoided writing mortgages at extremely high loan-to-valuation ratios.
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The banks have proven their worth lately.
Through their services and their in-house processes of human resource management, promotion and the like; basically worldwide, a set have been emplaced who have stuffed up bigtime.
It is on the face of the record. Greed has replaced sustainable enterprise.
The newbies haven't a clue about what makes the world tick simply because their instructors exploited an essentially non-complaining resource.
Simplistically, the greedy baby-boomers.
Now is a good time to make for change.
Let it happen, put greed aside, and permit the rest of the upcoming world to at least influence your decisionmaking.
Admit the carbon trading bubble has burst even before it began.
Pipe down, admit it, get down from that pile of ashes -
'Cos economic warfare is not a joke and these last few weeks we have suffered as the target.
With what has happened in the US, the price of fuel and food - staples prices should have dropped remarkably.
That is not happening. Why Not?