The federal government has been helping out Aussie banks to ensure they don’t get credit crunched as badly as their overseas counterparts. But are our banks keeping up their part of the bargain and providing enough credit to cash-strapped local businesses?
Treasurer Wayne Swan has told ABC that banks have “an obligation to ensure there is a sufficient flow of credit in the economy to viable business.”
Are the banks playing a fair game, or acting too tough? Last month CBA gave investment company Storm Financial just one day to repay debts said to total more than $78m. And look what happened to Storm.
Isn’t it time that the banks started lending more money to support Aussie businesses, rather than just taking it from the taxpayer? Get the credit flowing below.