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ANZ $29.02

should the reserve bank pull the plug?

  1. jollyroger1

    1,155 Posts.

    let us not forget the pupose of the Reserve bank's "lender of the last resort" facility!!

    this was established in the Depression to protect the deposits of mums and dads who lost their life savngs in bank failures

    the ANZ has flouted prudential standards

    it has $11b of overseas loans of which $2b are to US telcos and power companies.

    it refuses to deal upfront with regulators and did not cough up to the ATO until I exposed it on HC

    it can no longer be regarded as a good citizen

    should the RBA in these circumstances pull the plug on ANZ by removing "lender of the last rsort" facilities?

    opinions please?

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