Short version: Westpac Banana video

Short version: Westpac's condescending video arguing why it could put up interest rates and using the example of the cost of banana smoothies rising after a tropical storm

Category:

News & Politics

Tags:

• Westpac banana smoothie
• mortgage rates
• Gail Kelly
• Kevin Rudd
• interest rates
• crisis

[tubester4567]

Yeh right. If i have a storm and cant pay the mortgage for a few months you take my house. If you have a storm from your own bad practices, you get bailed out and then charge more. That sounds fair.

[phildobbie]

Great explanation, although it doesn't cover off how, if its so bad, they managed to make $3.45 billion in profit for the year to September 09.

[donellahimenez]

great clip .. keep it up thanks

[KG84C]

So as well as bananas, they also could not afford a decent air conditioning system with redundancy, and probably had some bozo who was clueless about support utilities, or to tight to fix/bolster them.

Gail Kelly, you clown.

[phildobbie]

Sorry @Aussie77 - I did mean PROFIT. In their latest results they made $3.052 billion in PROFIT. So I was braining, and less of a dumbass than you might have thought.

[oooooookkkkkkkmmmmmm]

@sjenkin1 Banks only exist because they are able to make a profit- that's why all businesses exist, even banana selling businesses. In this way they need to ensure that they have enough revenue to support over one hundred thousand Australian jobs, and to continue existing so they can provide you with your mortgage. It's a service- like a doctor or a lawyer is a service-, not a public charity.

[Aussiex77x]

@phildobbie Because they didn't make 3.45 billion in profit, they made 3.45 billion in revenue. Profit is what's left over after paying costs. Costs include all of their employees, office costs, etc. What's left over is used to protect the bank from future collapse through future, and to enable them to lend more money for mortgages- this is the initial money that the advertisement explains is lent.

Learn to brain dumbass

[upaste]

Westpac suspended my business credit card with no warning whatsoever, all over a $10 payment. My account with them was $60,000 in credit.

Die Westpac and all other large greedy corporations.

[GoggleEyedOne]

once upon a time there were lots of greedy shareholders in the banana smoothie company. the executive board of the smoothie company felt short term profits to shareholders were more important than long term loyalty to their customers, and they also liked making fat profits every quarter, so they decided to charge even more for their overpriced smoothies.