.: Gordon Campbell Calls Aussie Banks Names

Friday, 8 February 2019

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Let us now turn our attention if we may, to the nefarious practices of the Australian Banking Gang, and in particular to their extraordinary level of profit taking from New Zealand. ANZ made a record $1.99 billion profit in 2018, which works out at $416 extracted from every single New Zealander. BNZ has racked up a $1.029 billion profit the same year. Westpac’s profit was up by 5% this year, to $1,017 billion as well. In June 2018, ASB reported a 10% rise in profit to $1.177 billion. Click to read why Gordon Campbell Calls Aussie Banks Names...

http://www.scoop.co.nz/stories/HL1902/S00024/gordon-campbell-on-why-the-aussie-banks-are-bastards.htm

Scott MacWilliam said...: Sorry to disappoint Gordon Campbell but to label international firms `Aussie banks' is just jingoistic drivel. A bank registered in one country does not make it a national entity when its shareholders come from anywhere on the globe, including pension funds in Canada and elsewhere. To label money sent from New Zealand subsidiaries of a bank registered in Australia as somehow extracted from NZ and sent to any one country is also nonsense. The Australian head office is no more than a transit stop, with dividends paid to any shareholder anywhere in the world, and interest repaid to other banks and financial institutions who have lent the Australian-based bank funds which it on-lent and collected repayments on. All banks everywhere conform to one law, that is to maximize profits on an international scale of reckoning: indebtedness to international lenders is now a common feature of banks everywhere.
Names mean almost nothing in a globalised world, as a look at sporting teams should show Gordon Campbell: witness the Southern African-born people playing cricket for England. Qatar won the Asian Football competition recently with quite a few non-Qatari born players. And so on, and on, and on. Jingoism is a sure sign of emotional and intellectual immaturity.; Friday, 8 February 2019 at 12:22:00 GMT+13