Australian Politics Forum - Is this how some banks work?

Grappler Deep State Feller

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Is this how some banks work?
Apr 5^th, 2014 at 11:49am

Now, I'd like you to read this carefully and note the process by which farmers can be sent to the wall, and the way in which annexure of their properties seems to somehow enrich the 'big boys' - There are questions to be asked here.

https://au.news.yahoo.com/a/22392262/farmer-peter-repacholi-evicted-from-102-yea...

"Dr Jacobs has been a vocal critic of the big four banks' treatment of farmers and their failure to tailor their services to better reflect the seasonal realities of farming.

He has also been highly critical of what he calls a cosy relationship between the banks and companies managing farm receiverships.

"Once farmers do get to the receivership process they've got 30 per cent equity left in their farm, the receivership process chews up the remaining equity and it's tragic that farmers have to go, even more tragic that when they do go there's nothing left," he said.

Ironically Mr Repacholi had a bumper year in 2013, harvesting about $800,000 worth of grain. But he had arranged finance outside the bank to fund his cropping program and after harvest, Bankwest claimed it all.

"They confiscated everything. They took every grain I took off the farm," he said.

He expected the bank to leave him with nothing. He estimated his farm, livestock and machinery were worth more than $5 million, but if there was a foreclosure sale he would be unlikely to see a cent.

"This is happening to too many farmers, what the banks are doing," Mr Repacholi said."

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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GrandPaPa

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Re: Is this how some banks work?
Reply #1 - Apr 5^th, 2014 at 12:48pm

Hockey would likely comment...."Oh well, like I told you, the age of entitlement is over...."

The lack of application of banking services to farmers in a manner reflecting the peculiar realities of agricultural pursuits in Australia reflects greatly upon the quality of the political class.

If they were doing their job, they'd MAKE the banks respect the farmers' problems and tailor their services accordingly. But there must be little regulation, no matter what. Self regulation, that's it, and the bankster casino rolls on unabated......

Good on yer Joe, maybe you need to get right out front of each bank with your bull-horn. So far they seem to think the age of entitlement's rolling along just fine for them, thank you very much!

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"The aim of practical politics is to keep the populace alarmed and hence clamorous to be led to safety, by menacing it with an endless series of hobgoblins, all of them imaginary." H.L. Mencken 1911

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Grappler Deep State Feller

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Re: Is this how some banks work?
Reply #2 - Apr 5^th, 2014 at 2:22pm

Yes - farmers have unique ebbs and flows depending on many factors, and this can mean boom or bust. This requires a lot of careful planning and thought, and the good Lord willin' an' the creeks don't rise...

My readings on salt etc - salinity - indicate that prevailing westerly winds bring considerable salt-laden air on to the WA wheat area, a lot of which has been cut out of production.

http://www.csiro.au/Outcomes/Environment/Australian-Landscapes/Land-monitor.aspx

http://www.abc.net.au/science/slab/salinity/

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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ian Gold Member Offline OzPolitic Posts: 9451	Re: Is this how some banks work? Reply #3 - Apr 5^th, 2014 at 2:24pm a farm is a business like any other and should be treated as such. Dont like the banks rules? Dont borrow money from them.
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Grappler Deep State Feller Gold Member Offline Australian Politics Posts: 85311 Always was always will be HOME Gender:	Re: Is this how some banks work? Reply #4 - Apr 5^th, 2014 at 2:38pm I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry.... I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable.
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GrandPaPa Senior Member Offline Australian Politics Posts: 287 Queensland Gender:	Re: Is this how some banks work? Reply #5 - Apr 5^th, 2014 at 2:54pm ian wrote on Apr 5^th, 2014 at 2:24pm: a farm is a business like any other and should be treated as such. Dont like the banks rules? Dont borrow money from them. Oh heck....why didn't I think of that..... Why didn't I realise it's all just that simple!
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ian

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Re: Is this how some banks work?
Reply #6 - Apr 5^th, 2014 at 3:08pm

Grappler Deep State Feller wrote on Apr 5^th, 2014 at 2:38pm:

I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry....

I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable.

Many of these farmers are just poor business managers. They seem to think that the taxpayer should be subsidising their incompetence.

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ian Gold Member Offline OzPolitic Posts: 9451	Re: Is this how some banks work? Reply #7 - Apr 5^th, 2014 at 3:09pm GrandPaPa wrote on Apr 5^th, 2014 at 2:54pm: Oh heck....why didn't I think of that..... Why didn't I realise it's all just that simple! Im sure theres a lot of things you dont think of. Never mind, at least you arent shy about displaying your ignorance. Thats a plus in my book.
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Grappler Deep State Feller

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Re: Is this how some banks work?
Reply #8 - Apr 5^th, 2014 at 11:42pm

ian wrote on Apr 5^th, 2014 at 3:08pm:

Grappler Deep State Feller wrote on Apr 5^th, 2014 at 2:38pm:

I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry....

I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable.

Many of these farmers are just poor business managers. They seem to think that the taxpayer should be subsidising their incompetence.

I'm not too clued up on the costs/expenditure/income position of farmers, but it seems to me somehow very lacking in something to have a multi-generational property and not be able to make a profit out of it without massive borrowings constantly.

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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The_Barnacle

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Re: Is this how some banks work?
Reply #9 - Apr 6^th, 2014 at 9:39am

Grappler Deep State Feller wrote on Apr 5^th, 2014 at 2:38pm:

I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry....

I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable.

Debt is not the issue. It's the ability to pay it back that is the issue. As long as mortgage holders are making their repayments the Banks are happy.

Whilst the government has stopped bailing out manufacturing companies you can be sure that they will continue to pour money into the farming industry. It seems the age of entitlement isn't over for some.

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The Right Wing only believe in free speech when they agree with what is being said.

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GrandPaPa

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Re: Is this how some banks work?
Reply #10 - Apr 6^th, 2014 at 10:24am

ian wrote on Apr 5^th, 2014 at 3:09pm:

GrandPaPa wrote on Apr 5^th, 2014 at 2:54pm:

Oh heck....why didn't I think of that.....
Why didn't I realise it's all just that simple!

Im sure theres a lot of things you dont think of. Never mind, at least you arent shy about displaying your ignorance. Thats a plus in my book.

Here we go again, another fool more interested in juvenile points scoring than making an intelligent contribution...
How much business experience have you had, professor?

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"The aim of practical politics is to keep the populace alarmed and hence clamorous to be led to safety, by menacing it with an endless series of hobgoblins, all of them imaginary." H.L. Mencken 1911

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ian

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Re: Is this how some banks work?
Reply #11 - Apr 6^th, 2014 at 11:40am

GrandPaPa wrote on Apr 6^th, 2014 at 10:24am:

ian wrote on Apr 5^th, 2014 at 3:09pm:

GrandPaPa wrote on Apr 5^th, 2014 at 2:54pm:

Oh heck....why didn't I think of that.....
Why didn't I realise it's all just that simple!

Im sure theres a lot of things you dont think of. Never mind, at least you arent shy about displaying your ignorance. Thats a plus in my book.

Here we go again, another fool more interested in juvenile points scoring than making an intelligent contribution...
How much business experience have you had, professor?

Says the post and runner. Grin

I have to laugh, almost every one of your posts attacks other posters who disagree with you with childish name calling. What happened here is you got the barb turned back on you and cant hack it.

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« Last Edit: Apr 6^th, 2014 at 11:47am by ian »

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GrandPaPa

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Re: Is this how some banks work?
Reply #12 - Apr 6^th, 2014 at 12:32pm

ian wrote on Apr 6^th, 2014 at 11:40am:

GrandPaPa wrote on Apr 6^th, 2014 at 10:24am:

ian wrote on Apr 5^th, 2014 at 3:09pm:

GrandPaPa wrote on Apr 5^th, 2014 at 2:54pm:

Oh heck....why didn't I think of that.....
Why didn't I realise it's all just that simple!

Im sure theres a lot of things you dont think of. Never mind, at least you arent shy about displaying your ignorance. Thats a plus in my book.

Here we go again, another fool more interested in juvenile points scoring than making an intelligent contribution...
How much business experience have you had, professor?

Says the post and runner. Grin

I have to laugh, almost every one of your posts attacks other posters who disagree with you with childish name calling. What happened here is you got the barb turned back on you and cant hack it.

You think my original comment was an attack on you...??
Poor thin-skinned Ian......
It was clearly an ironic comment pointing out there's more to the issue than your unenlightened simplification would suggest.
And please....what barb? I'd consider a 'barb' to perhaps be an effective point of debate, and you certainly haven't come close to that.
Anyway if your fragile ego needs a conquest, then be my guest. Any imaginary grandiose triumph you care to concoct totally doesn't bother me.
It's just a shame that attempting adult discourse with light-weights like you is like trying to nail a blob of jelly to a wall.

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"The aim of practical politics is to keep the populace alarmed and hence clamorous to be led to safety, by menacing it with an endless series of hobgoblins, all of them imaginary." H.L. Mencken 1911

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BatteriesNotIncluded

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Re: Is this how some banks work?
Reply #13 - Apr 6^th, 2014 at 6:40pm

Rule 1: get away from the banks!

The world is turning and banks are buying up the farms vicariously!

Stockmarkets are run by the banks! Farming is big business..

If they get big enough do farming concerns become PRICE MAKERS??????????????????????????????
?????????????
???????????????????????
????????????????????????????????????????????????? Roll Eyes

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*Sure....they're anti competitive as any subsidised job is. It wouldn't be there without the tax payer. Very damned difficult for a brainwashed collectivist to understand that I know.... (swaggy) *

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ian

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Re: Is this how some banks work?
Reply #14 - Apr 6^th, 2014 at 7:07pm

GrandPaPa wrote on Apr 6^th, 2014 at 12:32pm:

[
You think my original comment was an attack on you...??
Poor thin-skinned Ian......
It was clearly an ironic comment pointing out there's more to the issue than your unenlightened simplification would suggest.
And please....what barb? I'd consider a 'barb' to perhaps be an effective point of debate, and you certainly haven't come close to that.
Anyway if your fragile ego needs a conquest, then be my guest. Any imaginary grandiose triumph you care to concoct totally doesn't bother me.
It's just a shame that attempting adult discourse with light-weights like you is like trying to nail a blob of jelly to a wall.

Lol, looks like I hit the bullseye. Gotta love these guys.

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