http://www.stuff.co.nz/business/world/3409004/Banks-blasted-for-profiteeting
I’m wondering how one might explain this situation from an Austrian perspective. I’m not familiar with Australian banking, myself. I suspect this “deregulation” they speak of is faux deregulation, much like how “deregulation” is tossed around as a cause of the US crisis.
The actual article contains very little actual content. It’s mostly baseless assertions that Australian banks are a “monopoly,” that they make “too much profits,” and that they have a “license to print money.”
As for that last bit, don’t they know what the Reserve Bank of Australia is?
I though Australia has a monopoly on money. I dont know how much regulated you can be.