ANZ Bank Australian Commercial 1984

Typical self centred bank ad. This ones circa 1984.

Category:

Entertainment

Tags:

• anz
• commercial
• australia
• ad
• oz
• tv

[Sen923]

what the hell is this crap

[AussiePolitics]

@derfuhrer881 do you honestly believe that we would be seeing this mess today if the community reinvestment act had not existed and the government had not given big companies an unfair market advantage and made the reckless by guaranteeing bailouts?

[AussiePolitics]

@derfuhrer881 yes and when the government totally controls the credit market and immigration it will become less about companies providing a valuable service and running effectively and more about having the political contacts to buy the approval you want for projects. "they should be allowed to fail" but the really big ones never do and they know it. they have an unfair investment advantage because of this and this massively distorts the market.

[AussiePolitics]

@derfuhrer881 the free market, when it is allowed to function properly acts very much like natural selection. only the companies that are able to survive can continue. the ones that are weak and have bad practice fail. what happens is when you get the government interfering at a massive scale businesses can survive not by providing a service that people want and running well which benefits everyone, but by buying influence with politicians and making deals.

[AussiePolitics]

@derfuhrer881 of course there were other bubbles, but I am referring specifically to the GFC of 2008 because that was the issue you brought up. in america we had over 30 years of government programs that forced banks to give loans out to people who if the free market had been allowed to operate had not been allowed to get them. furthermore these banks were taking massive risks because the US government had effectively socialised losses and privatised the profits.

[AussiePolitics]

@derfuhrer881 so basically you want to have the government completely and utterly control and restrict all aspects that allow our economy to grow including credit and immigration. how about the government stops promising to bail out investment firms and banks that take too many risks? that would have a far greater beneficial effect on the economy because companies would have to actually take responsibility and those that didnt would actually fail for once.

[AussiePolitics]

@derfuhrer881 yet it was not these practices that lead to the housing bubble which burst causing the GFC was it? it was the community reinvestment act. you like to pretend that its free markets causing these crisis while ignoring these massive and incredibly stupid government programs that cause these programs and massively distort the market.

[AussiePolitics]

@derfuhrer881 no, you said "yes, the reinvestment act did burst the bubble but the financial crisis was 30 years in the making". the community reinvestment act CREATED the bubble and higher interest rates which forced people to default who should have never had homes in the first place were it not for government "benevolence". so much for "free markets" when we've had 30+ years of that law.

[AussiePolitics]

@derfuhrer881 "most of the debt comes from consumer spending like credit cards" that is completely wrong. the amount of debt on a credit card does not come close to the amount owed by people on their repayments. like i said, the vast majority of the debt comes from people buying houses. do you want the government to pass a law banning people on buying houses?

[AussiePolitics]

@derfuhrer881 "the financial crisis was 30 years in the making" the community reinvestment act was started 31 years before the crisis hit in 2008.