Finance Minister Bill English has told banks to lower their profits, after the four big Australian-owned lenders reported total profits in excess of $4.5 billion.
It always amazes me when the Banks make statements about how tough it is yet unlike many other businesses that are actually loseing money they are merely not making as much as before.
Now that would be ok in normal circumstances to not be happy about making as much money as before however we are in a recession, we are in a recession that was bought on by the practices that many of these banks adopted and yet they are not happy because they are not making as much money as they did in the good ole days, give me a break.
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