Yabby I have not been on forum for long but on two previous occasions when I slighted the banks and their exorbitant ROI you defended them with almost exactly the same rhetoric disguised as insightful verbiage. Whose puppet are you socking?

Sonofgloin, if you check the timing of my post, it was around
60seconds after yours. In other words, I did not write that post in
60 seconds, but was responding to a post by Democritus, of
6.30am this morning.

If you don't understand the fundamentals of Australian banking,
that is your choice and not my problem. You are of course free to
show where my points of reason are based on rhetoric and not fact.

You are also free to invest your hard earned savings in bank
shares and risk losing the lot if things go wrong, as recently
happened to some investors in the USA and UK.

Just a suggestion. Investors won't risk losing their shirts,
without compensation for taking that risk. Investors are the
last in the queue, should things go wrong, as they have in other
parts of the world, due to the GFC.

First we should look at what Hockey said.
Then at the implications of doing what he said.
Understanding that banks exist for profit and that our banks came out of the GFC much better than any others.
Arjay, for a bloke so concerned,often quite rightly,about world finances you get very lost here.
Self interest drives in my belief, some who want low interest rates but not low earnings.

Arjay the reason I put a smile after that sentence was to indicate humour given the 'lunatic fringe' comment by Liberal MP Don Randall when he mistalkenly assumed the comment about interests rates came from the Greens.

http://www.businessday.com.au/business/hockey-cops-friendly-fire-for-lunatic-rates-call-20101021-16ump.html

If the Greens had come out (instead of Hockey) with that statement - the 'lunatic fringe' comments would have been fast and furious and without mercy from the Coalition.

No problem here with differing opinions it is just hypocrisy that gets my wick.

You're 100% right pelican. Randall's "lunatic fringe" comment would have been repeated by all people Liberal if what Joe Hockey said, had been said by anyone from Labor or the Greens.

Randall's political mistake with his dumb comment shows how disingenuous politics has become in Australia. Disingenuous on BOTH sides.

Yes indeed but my idea, that such comments are being made in the hope of turning some from the government seems true.
This idea is strange to the point of stupidity, so too are comments being made on the Murry Darling.
If Abbott was Prime Minister, IF it was Labor making such just plain stupid comments,we would see much more media coverage.
In the end Abbott's being hurt by a policy that confrontation, at any price, on any issue is a policy .
At a time Labor is not looking brilliant the opposition seems intent on looking worse.