A beautiful bunch a' ripe bananaDaylight come and me wan' go homeHide the deadly black tarantulaDaylight come and me wan' go home- stanza from The Banana Boat Song, (Day-O)
Imagine, Harry Belafonte crooning this song with a blender grinding loudly in the background. At one point you are going to scream, "Stop, this racket is driving me crazy!"
One can only marvel at Westpac's latest unusual approach to serving the customer. With all due respect the jig is up, the daylight came and went days ago, and its now time to troddle home before that lurking tarantula turns into Sideshow Bob doing banana splits.
Unfortunately, I can't post the banana smoothie clip Westpac sent its customers. Hopefully you can still find it on this link.
Confused? I should get to the point.
Basically, Westpac sent an email with a clip/cartoon to their customers. It should have been titled Mortgages for Dummies.
The cartoon condescendingly explains how raising mortgage interest rates are like making smoothies from banana crops that have suffered damage from a severe storm. More expensive bananas translates into more expensive costs (ie. money), and since banks make money from virtually thin air (from other banks that borrow from other banks that keep a similar piddle of hard currency in their vaults) they are vulnerable to money that costs more to borrow. The dark clouds of competition frighten them that they will become bankrupt, but worse they feel for their customers who would suffer even greater harm should the banks be unable to turn over aberrant profit$. In other words without a tight-ass bank the dream of owning property is at risk.
Doesn't raising the interest rate, in fact, make it more difficult for clients to live day-0 and keep making their mortgage payments. How are average folk going to get a pay increase when banks are withholding credit to businesses, for example? Do workers overcome this by taking on additional stress, toiling longer hours or working more jobs? In the end people risk losing more than petty assets. What about health and happiness? Are these not important values? Frankly, is anything worth being a slave for? Is it just me, isn't there something perverse in their logic? Let's be honest, are there no other options? C'mon.
They are really something this bank. The more they try to justify their decision to gouge the customer the worse they appear. This business is now in the realm of silliness. The Sydney Morning Herald is like a pitbull on Westpac. I can't wait for tomorrow's news headline.
Be scared of the deadly black tarantula. It makes a mean banana smoothie.
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