It pains me when I see Bank Shareholders whining because profits were down

ANZ shares took a hit because earnings missed analyst estimates.
The bank still made $7.4 billion profit.
Looks to me like the shareholders are the ones baying for more and more profits.
Australia's four big banks are tipped to make a combined $33 billion in profits.
Whilst the rest of us flounder to pay the mortgage and cost of living.

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whowasthatmaskedman · 70-79, M

The price of doing business in a developed society is to pay rent for the money you owe. Its getting harder here for Banks to earn big profits in a market with rising interest rates and waves not keeping pace. I woule like to say this story has a happy ending. But the best you are going to get here is, "It could be worse. You might be in America, where there are almost no checks and balances.."😷

Gusman · 61-69, M

@whowasthatmaskedman Yes. It could be worse. The banks are now saying there will be tough times ahead. For who? The banks, or the consumers.
I say the latter.

whowasthatmaskedman · 70-79, M

@Gusman The Major Banks are all going through their second major reorganisation in less than ten years and still cling to the notion that things are going to return to "Business as usual". I dont believe thats true. A new hybrid model of banking will catch on, but its really to early to say what it will look like...Like automated supermarket checkouts, the jury is still out on it...😷

MarineBob · 56-60, M

I use a small hometown bank

DeWayfarer · 61-69, M

Greed begets even more greed. 😞

Why did the richest man in the world buy Twitter? 🤷🏻‍♂️

It wasn't for altruistic purposes for certain.

Renaci · 36-40

You know how some people have hoarding OCD. Some people hoard pets, some hoard junk. I really think the one percent actually have wealth hoarding OCD. Cause they seem to have panic attacks if profits aren't constantly going up. Being a one percent is a mental illness.

MethDozer · M

Word. All these investor types who do literally nothing productive just exploit and extract think that " if we made a billion last year. It should be two billion this year" or it's terrible tragedy and they are being screwed.

You get paid to just collect money. STFU

Gusman · 61-69, M

@MethDozer The capitalist system has winners and many more losers I say. Increased profit year on year? At what cost. Cut jobs, cut services, sell off that public asset...

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