凡是损害我们的，就是我们的敌人
凡是反对我们的，就是我们的敌人
凡是有益我们的，就是我们的朋友
凡是支持我们的，就是我们的朋友
我们的敌人的敌人，就是我们的朋友
我们的敌人的朋友，就是我们的敌人
我们的朋友的朋友，就是我们的朋友
我们的朋友的敌人，就是我们的敌人
。。。
http://online.wsj.com/article/SB10001424052748703649104575613751113154816.html
Anti-Big Bank Sentiment in Australia Reaches Boiling Point
SYDNEY—Australia's influential Greens party said Sunday it plans to legislate against the country's major banks raising their interest rates beyond increases by the central bank. Greens leader Senator Bob Brown plans to put a 24-month freeze on banks being able to raise rates above any increases by the Reserve Bank of Australia.
Mr. Brown is the latest to join the public and political outpouring of fury after Australia's big four banks raised home loan rates above a 0.25 percentage point increase to 4.75% by the central bank in early November. The country's largest mortgage lender Commonwealth Bank of Australia prompted a swift backlash when it raised its own rates 0.45 percentage points on the same day.
Since then, the remaining three major banks have all raised rates above the 0.25 percentage point increase by the central bank. Australia and New Zealand Banking Group Ltd. raised by 0.39 percentage points Wednesday and National Australia Bank Ltd. and Westpac Banking Corp. raised their rates 0.43 percentage points and 0.35 percentage points, respectively, on Friday.
"The Banking Amendment (Delivering Essential Financial Services for the Community) Bill 2010 provides legislative protection for customers including a ban on unfair A$2 bank ATM fees, ensuring basic fee-free bank accounts, capping the level of mortgage exit fees, and introducing a variable rate mortgage product ("Fair Price Mortgages") that will only permit genuine changes to the lender's cost of funds to be passed on to customers," Brown said in a statement.
The new legislative action is in addition to a bill to make banking fairer which Adam Bandt, a key member of parliament, will introduce to the lower house of representatives on Monday.
Mr. Bandt, a member of the Greens, supports the minority Labor government led by Prime Minister Julia Gillard and his vote is vital along with a handful of independents in keeping the government in power.
Ms. Gillard herself has put pressure on the banks to not raise rates over and beyond any increases by the central bank. But while she has been attending the Group of 20 industrial and emerging economies summit in South Korea and the Asia Pacific Economic Cooperation forum in Japan the heat on the Australian banks has intensified to boiling point.
In his weekly economic note, Treasurer Wayne Swan echoed this sentiment Sunday.
"Unfortunately this week ANZ, Westpac and NAB all confirmed the culture of arrogance and contempt for the community we are seeing among the big banks. So it wasn't surprising to read reports that the number of people looking to re-finance their mortgage, or switch home loans, more than doubled over the past week and a half, Mr. Swan said.
"The number of customers looking to switch to the smaller building societies sky-rocketed."
"We know there is still more work to do to build up competition in the banking sector. I'll soon be announcing a carefully considered, effective plan to promote more competition and give people a fair go."
Commonwealth Bank, the first to go, increased its rates on variable home loans to 7.81%. National Australia Bank's rate is 7.67%, ANZ's is 7.80% and Westpac's is 7.86%.
About 90% of Australian homeowners have variable loans.
Sam White, deputy chairman of Australia's largest mortgage broker, Ray White, said not only will the country's ongoing property price boom be hit by the interest rate raises, but also the cost of living.
"Most people were surprised when the RBA moved and then the compounding affect of the banks has been more than just a double-whammy for Australian families," Mr. White said.
He noted that homeowners already are changing mortgage originators in the wake of Commonwealth Bank's move. His firm arranges about A$600 million worth of home loans a month, and he said smaller firms such as Suncorp-Metway Ltd. and Bendigo & Adelaide Bank Ltd. are seeing an uptick in business. Though the larger banks previously accounted for about 90% of the loans Ray White originated, that figure has recently dropped to about 60%.