Comment: Ents and Entrapment

Ents & Entrapment

In the 1999 film Entrapment, Catherine Zeta-Jones plots to steal $8 billion. She’s negotiating the help of genius partner-in-crime, Sean Connery, who reasons for his equal share.

“What can you do with $7 billion that you can’t do with 4?”

“Hold the record. Alone”.

One might wager that this same self-adulation has consumed the boardrooms of Australian banks in recent years.

A move by St. George Bank to lower lending rates on 1-year, 2-year and 3-year fixed-rate home loans must be deemed admirable in a climate where banks have cried poverty like a broken record despite – ironically – record-breaking profits.

But it should equally ensure that the wool that has constantly been pulled over consumers’ eyes is, at last, fully removed.

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