Dear Sir/Madam,
I am Milton Caine, the Christian Democratic Party candidate for the seat of Newcastle.
The news of the Commonwealth Bank making record profits even greater profits than before the ‘economic crises. We must remember that the government bailed out the banks as people were under mortgagee stress, but none of our banks really looked like going into difficulty. However a number of people were forced to sell their homes due to the results of the economic crises and no assistance given to them. The banks with record profits are still increasing interest rates at a greater rate than the Reserve Bank movements. They are still charging fees that are not justifiable. Very senior managers are still being paid excessive amounts while the rest of the staff are facing job uncertainty. The banks make the rules and administer them for their own advantage and the government would never consider a supper profits tax on this industry and yet it is highly profitable and has freedom to virtually do as it likes. The Banks need to be brought into the real world and not to be a protected species in the business world.
I have attached (in two file extension) a press release for your consideration if you need more information please contact me on 0410027593.
Yours In Good Faith,
Milton Caine
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