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So what is wrong with a Peoples Bank ? (Read 8814 times)
Sir lastnail
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Re: So what is wrong with a Peoples Bank ?
Reply #30 - Apr 9th, 2018 at 12:36am
 
longweekend58 wrote on Apr 6th, 2018 at 7:44pm:
Sir lastnail wrote on Apr 5th, 2018 at 9:31am:
Why are we giving tax payers guarantee of depositors money to private banking scammers who are running a ponzi scheme ? Doesn't make a lot of sense to me.

Those guarantees should only be available to a people run bank. The private bank scammers can maximize their profits at their own risk !!



because - dumbest of the dumb - banking failures tend to escalate like dominos. Protecting one means protecting all. During the GC, many banks and companies folded because of the domino effect, not because of their own malfeasance.

rather obvious, dont you think?


Well if the depositors guarantee is limited to the peoples bank only guess which bank the punters are going to deposit their hard earned money into ?? Nobody is going to worry about the stolen wealth bank and their band of greedy shareholders. Nobody is going to touch them with a barge pole !!
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Ajax
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Re: So what is wrong with a Peoples Bank ?
Reply #31 - Apr 9th, 2018 at 11:41am
 
We can’t have a public only bank with government guarantee cause that would send the other banks broke.

We can’t have a public bank passing on interest rate cuts verbatim from the RBA cause that would send private banks broke.

We can’t have a public bank assessing home buyers to see if they’re eligible to apply for such a loan cause that would send the private banks broke.

In fact we can’t have a public bank that doesn’t charge millions of dollars in fees cause that would send the private banks broke.

A public bank sets a standard that private banks won’t stand for.

In fact anything that benefits the consumer in the way of banking will not be stood for by the private banks.

It would be so unfair if the consumer got a good deal, unbearable unthinkable that some of the wealth in our nation actually got distributed to the general public.
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1. There has never been a more serious assault on our standard of living than Anthropogenic Global Warming..Ajax
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freediver
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Re: So what is wrong with a Peoples Bank ?
Reply #32 - Jun 16th, 2018 at 11:26am
 
There are plenty of not-for-profit banks or equivalents - credit union type places that will give you a home loan. They are generally cheaper than the big 4, as are the smaller conventional banks. You would expect that from an oligopoly type situation - which is why the big 4 keep buying up the smaller banks.

There should not be a government-run people's bank because it is not the government's place to be running a business, and they generally do a bloody aweful job at it.
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