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Bank Regulation
Remember it was not so long ago The Government was telling us
that the deregulation of the banks was necessary to allow more banks to come in
from overseas and allow for more competition and banking services.
Yet now we are told to expect many mergers resulting in just a
few banks left operating.
The real reason for deregulation was to allow the overseas
takeover of the few good Australian banks we had back then.
But more importantly it was to remove the "government guaranteed"
that the Commonwealth bank provided for the savings of ordinary Australians.
Remember that famous Advertisement, "Get with the Strength, Bank
Commonwealth!"
Leslie James.
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