4CA - Queensland's Home for Fake News

4CA - Queensland's Home for Fake News
4CA - Queensland's Home for Fake News Led by John "Cueball" Mackenzie

26 November 2011


The Big Four Australian banks are often criticised by business, government, farmers, workers (shit, everyone in Australia knows the banks are run by greedy, self-serving arseholes).  Australian businesses in particular have difficulty getting support from the banks, a proximate cause of much of the last few years financial difficulty in Australia.  Even the Queensland Government-commissioned Chamber of Commerce and Industry Queensland just published a report that documents the lack of business lending available to Australian entrepreneurs.  And the few bucks available come at high interest rates, oh and "don't forget to stump up the family home, Mr. Businessman because we really only want real estate."  

So it was a big surprise today to learn that ANZ Bank was awarded a government "Business Lender of the Year", with ANZ employee Alana Oppermann awarded "Business Banker of the Year".

This award comes from the United States Small Business Administration (SBA), and was awarded to ANZ - GUAM!
$7.62 Million of Australian money loaned to "various small (American) businesses".  And loaned without any business required to pledge their family homes to the bank as collateral! When small Cairns business goes into ANZ, their message is to go fuck yourself. Oh sure, they pretend to take your application and go thru the motions. The only "investment" of interest to Australian banks is more unneeded housing, or billion dollar loans to multinationals that don't need it.  Maybe Cairns businesses need to travel a few hours north to Guam, USA and see the nice, award-winning business bankers at ANZ Guam to get some of our dosh back working in OUR country!  ANZ Cairns has never been interested in loaning a single buck to the Cairns business community. 

Fucking banks.

1 comment:

Alison Alloway said...

One of the worst, unconscienable acts the Australian banks have ever done occurred in 1991 immediately following the privatisation of the Commonwealth Bank:-
I was then Supervisor of the front Unemployment Benefits counter of the then Dept of Social Security in Grafton Street, Cairns.
Suddenly, we were being inundated with angry, distressed clients saying that they could not access their unemployment, aged and disability pension cheques from the banks. We Social Security staff were completely baffled. We knew we had paid the cheques into the banks and the client should have been able to access them the following day. I decided to take a cheque down to the bank myself. Once I had deposited it into the client's account, I said to the bank clerk. "So the client will be able to access his money tomorrow?" The Commonwealth bank clerk didn't reply. "Mmmm" she mumbled, not looking at me. I again repeated my question. "Will he be able to access it tomorrow?"
"The same as usual," replied the bank clerk not looking at me. The following day, the client was back in front of me, raging. "There is no money there, you lied. They told me you didn't put the money into my account!" I then called the Social Worker into investigate. What the Social Worker found was that the Commonwealth Bank, immediately following privatisation, had confiscated Social Security welfare payments and was investing this welfare money on the short term money market, restricting our clients from accessing their money for seven working days. Other banks followed suit.
Our Social Worker spoke to the Manager and information was passed to the Federal Minister as to what was happening and the banks were told to cease this unconscienable trading with welfare money.
It is something I have never forgotten. The banks issued no warning and obviously advised their tellers and bank staff to lie to welfare recipients. The bank staff put the absence of money straight back onto us Social Security clerks. Our welfare clients were put under enormous pressure with most of them living hand to mouth. They simply could not afford to wait an extra week while the banks made money with their welfare payments.
A little postscript to this -
One of my acquaintances was then married to a Manager of a Commonwealth Bank. I recall her telling me quite proudly how her husband received $45,000 in bonuses that Christmas.