Corrupt Australia presents an alternative to the politically correct channels of debate to reveal and scrutinize the skewed structure/design of modern Australian society. We also seek to encourage autonomous Australian culture which is free from the standardizing and overly materialistic clutches of globalisation and which encourages citizens to go further than simply contributing to a quantity over quality mindset and the banal and unsustainable conditions under which we may increase our love for and attainment of material mass.

NAB posts $2.68 Billion net profit despite 'increased costs'


"National Australia Bank has posted a bottom line net profit of $2.68 billion for the half year to March 31, up 25.8 per cent on the year earlier.
[...]
NAB chief executive Mr Stewart said the bank was "very comfortable'' with its position as it moved through a phase of difficult financial markets. In line with recent comments from the head of Westpac , Mr Stewart said the worst of the current crisis in debt markets may have been over when the US Federal Reserve helped rescue US investment bank Bear Stearns in mid March. "There are signs that things have been getting better for the last few weeks,'' he said."

So why did the bank, along with ANZ, feel it needed to lift its interest rates (the fee it charges its customers to borrow money) back in April without any official Reverse Bank increase in the official national rate? Again why did the NAB need to lift its interest rate back in January in response to the subprime crisis in the US if it was all the while making large profits?

Despite what they proclaim, our Banks often do not need to increase the prices of their services. Sure businesses are there to make money but something would seem to be wrong if time and again banks proclaim 'increased costs' then pass on these 'increased costs' to customers and then finally turn around and report unprcedented profits. At the same time our supermakets and petrol stations are being investigated for anti-social collusioning behaviour while many Australian families are in the process of facing relatively tough fanincial times. While a society will never necessarily be 'equal' in terms of haves and have nots, there are degrees to which one section of it (big business - often foreign owned) should benefit at the expense of our society.


Think of it all - of the life that is! Study your friends and foes!
Study the past! And answer this: "Are these times better than those?" The life-long quarrel, the paltry spite, the sting of your poisoned pride! No matter who fell it were better to fight as they did when the world was wide.

Boast as you will of your mateship now - crippled and mean and sly - The lines of suspicion on friendship's brow were traced since the days gone by.
There was room in the long, free lines of the van to fight for it side by side -
There was beating-room for the heart of a man in the days when the world was wide.

With its dull, brown days of a-shilling-an-hour the dreary year drags round: Is this the result of Old England's power? - the bourne of the Outward Bound?
Is this the sequel of Westward Ho! - of the days of Whate'er Betide? The heart of the rebel makes answer "No! We'll fight till the world grows wide!"

The world shall yet be a wider world - for the tokens are manifest; East and North shall the wrongs be hurled that followed us South and West. The march of Freedom is North by the Dawn! Follow, whate'er betide! Sons of the Exiles, march! March on! March till the world grows wide!

- Henry Lawson

(c)2008 Corrupt AU