Is it likely the Banking Royal Commission could put us into recession?
Elliot Joseph: Dont believe the media hype. Imo no one will be held accountable and the banks will have to pay a $50 fine and a pretend slap on the wrist
Kaydence Lloyd: Totally agree. Thats what they pay their million $ legal team to protect you from.
Sawyer Lambert: Theyll be given errr, â€œenforceable undertakingsâ€ to deliver on. The equivalent of whipping someone with a warm lettuce leaf.
Oscar Weaver: Expect some changes to financial planning rules to come out of it but not a lot else. We are going into recession here in Australia for a different reason.
Claire Walker: What reason would that be?
Braxton Terry: As much as one wants justice, rest assured nothing will change. Its the big banking industry, of course they will never penalise heavy on them and the rest will walk away scot free.
Genesis Burke: Remember it was the banks who in the end said lets have a Royal commission not the government… in other words they got rid of the most dirty if the laundry already. The rest is just to make us all feel like something is getting done.
Elliot Joseph: Banks arent corrupt People are and people should be held accountable for any failings
Jillian Wilkins: Wa is basically in recession already lol
Genesis Burke: So is QLD
Blakely Richardson: Im a contractor in WA mate and Ive never been so busy as in the last 6 months. Most people I know in business are the same
Blakely Richardson: Things are turning
Kate Simpson: ASIC got no balls anyway
Luke Morgan: No the royal commission will give us the mid term cycle down turn as expected, but in 12-18 months time we will see a return to easy credit and a boom in the market
Genesis Burke: Banks are looking very cheap and are offering very high yields at current prices. Doubt very much they will cut their dividends so I wouldnt be surprised if we see a pretty decent bounce from here over the next few weeks.
Aisha Fitzgerald: Can anyone give a good reason why they think were on the edge of a recession? I hear it many times, but theres currently no reason it would happen.
Luke Morgan: If you study cycles we have no issue until late 2025. We will get a flat 12 months now with house prices in major cities stagnant but them will see a boom and the banks do really well.
Ivanna Curry: We are already slowly entering into a recession, the Royle commission is just confirming the banks are butt raping our wallets, people will get angry, rant on social media, the banks will say sorry they will get fined 0.012 % of the money they stole then people will forget about it and the the process can start all over again.
Phoenix Hale: All part of the cycle, theyll be forced to tighten up, 18 months f om now itll be what royal commission. We are due for a mid term cycle but this is where smart people come out and get richer 🙂 as for banks, the screws will tighten for awhile and then theyll back to low doc/no doc home loans and giving home loans to 99 year olds.
Kennedi Green: That last comment is a bit stupid!!!!
Phoenix Hale: Which part?
Kennedi Green: giving loans to 99 year olds
Kaia Patterson: John, they give loans to people who have been dead for 10 years so maybe low doc loans to 99 year olds is a possibility. I a fair way from 99 years but remind me in 30 yrs to have a crack at one of these new fangled loans. lol
Phoenix Hale: Im sure itll come out, seen it with my own eyes.
Emilio Jefferson: This is one of the reasons I like cryptocurrency
Ivanna Curry: Crypto is totally safe I totally trust humans not to rip there fellow human off.
Elijah Hammond: I wonder if the people who bought in December/January like it…
Kaia Patterson: Phew, so glad there are no rorts in cryptos. (Not counting Jamie Dimwit, the Chinese government etc)
Leona Park: No chance.
Amelia Wright: no chance. Theyll get away with murder. they all know each other., buddy-buddy
Beckett Armstrong: No, but worldwide debt will ðŸ™Š
Daniel Davidson: Maybe soon enough
Elijah Hammond: The index is going to suffer no doubt about it, if youre holding bank shares good luck ðŸ‘ðŸ¼
Jillian Wilkins: its a catch 22 either way. Either nothing will happen and the crims will get away with it.orThe gov will come down hard, the banks will pay a fine, pass the costs onto customers and the shares will take a big hit. Majority of the shareholders are Aussie mums and dads so will hit them hard.
Hunter Conner: As someone who works for a bank. Tightening of credit is already happening. Massive changes to loan structure and servicing requirements will see it harder to find money. Not enough for a recession however. Mum and Dads will hurt the most as money for them will be harder to borrow.
Kinsley Hicks: No .
Kinsley Hicks: So the Liberal Government, who were pressured , asks banking CEOs a few tough questions , forces them to pay a few parking fines then go back to work and be good boys . Got my doubts if the economy will come to a screaming halt sending everyone to stock up on tinned foods and bottled water.
Kaydence Lloyd: I doubt it. The banks have more money than the Gov to spend on their legal teams. And we all know the best legal team wins.The RC will only find what the banks want the RC to find and the RC needs to find something.
Jayceon Andrews: Nope.
Daniel Davidson: Highly Doubtful
Daniel Davidson: Will be forgotten about soon enough, like the strikes on Syria
Jayceon Andrews: I just submitted to the RC on high frequency trading, bots, inequitous dark pools etc – Im expecting a response sometime in 2118…
Sawyer Lambert: The suits in parliament (note not government) will provide media theatre with more bullshit regulations brought in that will be as farcical as they are actually deliverable in court. One thing to pass â€œnewâ€ laws; another ball game altogether in securing convictions. House prices will be supported at all costs. Too politically sensitive not to. Recession: no. Might get a few bank shares a bit cheaper. Tread carefully with AMP. Wouldnt surprise me if financial planning is separated from banking.
Katelyn Carroll: Nothing will happen. All smokes and mirrors for the public to believe something will be done. Plus no matter who is in power, liberal or labor – same ðŸ’© different sandpit.
Nathan Ball: Not the RC but have a look at all the for lease signs in suburban shopping centres- usually a good indicator – perhaps things not as good as they make out- jobs growth – yes but mostly casual
Sawyer Lambert: Good point. Plenty of vacant shops in my area.
Raymond Paul: And the sad state of commercial real estate!
Jason Cortez: Sam Awad
Samara Keller: The Fines are part of doing business.You make $800 million and get fined $20 million, you still have $780 million and no one goes to jail….WOWLets keep defrauding are customers and get billions.If someone has to go to jail, lets hang it on a low down office worker.What banking system we have.
Kennedy Osborne: True that mate. So easily digested.
Sawyer Lambert: Talkmarkets.com
Bad Bankers Drive Out Good Bankers: Wells Fargo, Wall Street, And Greshams Law
Kinley Marsh: Broken clock is right twice a day
Josue Holt: I work for bank and I deal with the RC day in and out.just wondering if you know what is royal commission is?
Elijah Hammond: Say that again, champ..?
Lila Martinez: No. It will make banking better for consumers. It will affect bank share prices, but probably not much else.