Major banks cash in on crisis

Major banks cash in on crisis

www.news.com.au

THE major banks are making $450 a year more from each average home mortgage today than before the global financial crisis as they exploit weaker competition from non-bank lenders.

The cash grab by big banks, revealed in an analysis conducted for The Australian, threatens to further increase tensions between the banks and the Rudd Government.

The banks have cried poor, declaring they cannot afford to pass on the full benefit of the Reserve Bank's latest 0.25 percentage point interest rate cut because they are suffering from increased costs.

(visit the link for the full news article)

To anyone who doubts that this latest global financial fiasco was not planned then take a look at this article.

Although this article is looking at Australian banks, I am sure it is the same in England and America.

It has been said many times before about any major crisis - ask the question - "who is likely to gain from it?". The answer usually points to who orchestrated it.

www.news.com.au
(visit the link for the full news article)

Follow the money trail. If it leads to the banksters, then perhaps that is the problem's source. Fortunately, so far, I am able to pay my house payments. I did, however, choose a simple, inexpensive house that I believed I would be able to continue to pay for, based on what my income was, as to what I can expect may income to be. Not what I can barely afford and hope I can make it up later when the interest rates rise.

Edited to add, that when the dollar drops in value, then the value of my payments also drop, and if I am smart about it, this will continue to be good for me. My house payments become lower compared to what I can earn by being smart.

[edit on 12-4-2009 by kyred]

Of course our banks cry poor, they always have and always will.
we have somehow over draw on an account which did not allow over drawing and they charged us a fee for it.
so even when their computers make mistakes, we still pay for it.