Should they turn AusPost into a bank to make the Big4 dominated banking oligopoly more competitive? #auspol michaelwest.com.au/mortgage-mou... - ThreadSky

michaelwestbiz.bsky.social • 78 days ago

Should they turn AusPost into a bank to make the Big4 dominated banking oligopoly more competitive?
#auspol
https://michaelwest.com.au/mortgage-mountain-our-2-3-trillion-debt-and-the-big-4-oligopoly/

Comments

deantregenza.bsky.social•73 days ago

It seems to me that in most cases any market sector is moderated by a gov-owned competitor with the mandate to operate ethically and deliver products and services that meet or exceed standards and better practices. And, it is even better with good regulation, compliance and enforcement.

migaloo1.bsky.social•77 days ago

Absolutely brilliant idea. With all profits staying in public hands.

grafitist.bsky.social•78 days ago

But would that only encourage the Liberals to sell off AusPost, next time they're in power? Better to launch a separate new "Federal Bank" and design it to stay in public hands.

grahamnix.bsky.social•78 days ago

Yes, great idea.
Stipulate that it cannot be sold off.

ericbanana.bsky.social•78 days ago

It works for me.

20244202.bsky.social•78 days ago

Yes, yes and definitely yes

kbaguley.bsky.social•78 days ago

Sounds promising!

diogenes-original.bsky.social•78 days ago

Do you know that APRA rules allow banks to pay very little interest on SMSF cash balances and they make a huge profit on the $ billions as a result.

agentsmithy.bsky.social•78 days ago

It already is in many rural towns

morabeets.bsky.social•78 days ago

If we can bring the SECV back, why not.

queenmaxitaxi3333.bsky.social•78 days ago

This would really make the #BigFour sit up and take notice.
People use them everyday so why not?
At least we’d have choice in where our money was and who’s going to lend us some for loans and mortgages.
#AusPostBank
#auspol
#ausecon
#Auspol2024

iopollo.bsky.social•78 days ago

Yep.

fraucernik.bsky.social•78 days ago

Christine Holgate where are you ?

lenche-sk.bsky.social•78 days ago

My thoughts exactly. An accomplished intelligent strong woman, who did such a fantastic job with Australia Post.
Treated so disgracefully by Morrison and his acolytes.

lenche-sk.bsky.social•78 days ago

Why not. I think it would be popular with the community and give the big 4 a well deserved kick up the proverbial.