NAB & Westpac secret bail out - Aussie

[witchy1]

I subscribe to daily emails from these guys: www.moneymorning.com.au (http://www.moneymorning.com.au).

They have a very healthy take on the Australian economy. Worth a watch if you are into more corrupt bankers!!!!

"Because of the outrage from our readers over the Westpac Bank and National Australia Bank bailout, we've created this 8 minute video that you can share with your friends! Click on the link and hear more about the lie behind Australia's latest banking scandal that the main stream press don't seem to want to talk about"


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[Teakai]

Thanks, Witchy - the Westpac bank here just got a make-over!!

[bluestflame]

same westpac bank here and the plasmascreen above the atms ....

[Teakai]

same westpac bank here and the plasmascreen above the atms ....

Same.

A deliberate ploy to destroy this economy also?

[jcocks]

Remember the big NAB "computer glitch" that stopped people being able to access their money from NAB ATMs a few weeks ago? I wonder if there was more to that situation that we weren't told about?

[Anchor]

Wow, I didn't know about this.

[astrid]

I showed this to my housemate, he used to work in the financial industry... he got REALLY ANGRY and said that its all lies... i tried to show him all the links proving this , but he wouldn't listen. Oh well... some people still want to believe the illusion is true, we cant do much more than show people the evidence. Frustrating though!!

[witchy1]

Remember the big NAB "computer glitch" that stopped people being able to access their money from NAB ATMs a few weeks ago? I wonder if there was more to that situation that we weren't told about?

These guys are good..........They did a couple of emails about the NAB - and they admit to being able to prove anything, but managed to persuade me that NAB has so much tech gurus and back up strategies in place for such a "glitch" that it would be most unlikely to have been the case. They did suggest that payments were due to their suppliers and they didnt have the cash.......so in essence screwed everyone until the were fluid enough to pay their debts (it was about 5 days wasnt it. People couldnt pay mortgages and rent etc, no grocery money etc)

.......... Anyone can subscribe to their daily emails....they leave no stone unturned. (they do try to push their products a bit tho) but essentially good guys

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he got REALLY ANGRY and said that its all lies

Ah well Astrid, at least you have planted the seed of doubt, even if he isnt aware of it........he will notice the next "thing" and start putting one and one together eventually. well done

[ponda]

Good find witchy1

It's hard to believe that the officials involved have still gotten away with it for so long.

Astrid

Yeah some people aren't ready just yet but there's still time

[TraineeHuman]

You need to know that Australian banks, and particularly NAB and Westpac, own many overseas banks, as subsidiaries. So, most of their business takes place in those banks, outside Australia. For example, Westpac owns the Bank of Chicago and the Bank of Ireland, among many others. Because the bulk of their business takes place overseas, they "needed" a bailout. It wasn't because their Australian operations were failing to return a profit.

[witchy1]

Hi TH, so why didnt they do thru their subsideries????????? they in effect act independantly. Seems bizarre that it goes to the master business for the bail out given they are not connected on a day to day basis. Or have I completely screwed that up