…about banking and house prices. One wonders how that got past the Corporate Affairs twinkies.
Obviously we’re being facetious, Brian isn’t really the Head of LGBTQI123& non-TERF Advocacy (not that you’d know it to look at what he seems to spend most of his time focusing on).
No, he’s the CEO of Westpac
Which means, on balance, the article is even more worrying.
Ask yourself a question; when the CEO of the 2nd biggest bank decides to write a blog post explaining that the property market isn’t crashing, that the bank is sound and they are still open for business, does that make you feel great comfort and security?
Or, do you think to yourself, “why is he telling me this, why wouldn’t everything be fine, what does he know that I don’t?”
The lady doth protest too much, methinks
It’s highly unlikely any of the major Australian banks are going to be in trouble any time soon. However, the prime candidate if one does hit hard times would be the one with the largest exposure to interest only investment loans and a top of the market (2007) acquisition of a competitor that they never got round to integrating and realising economies of scale….