How Does A Bank Get Numbers So Wrong?
Australia has 4 big banks, which have eaten up all their competition over the years. These banks have profited enormously from the decades of a residential property investment boom. These banks make something like $250K profit on an average home loan downunder. Housing in Australia is overpriced due to investors and the banks making so much money from the boom. Recently, we have been informed that Westpac has underpaid its staff to the tune of tens of millions of dollars. How does a bank get numbers so wrong? I mean, aren’t banks supposed to be the gold standard with numbers and checking on credibility?
Economics Fresh Government News Power Workers
