Working Papers

‘Nice Bank You’ve Got There.  Shame if Something Were to Happen to It’

Former Treasurer Peter Costello boasts that he thugged the banks better than Treasurer Swan:

Mr Costello claimed during his tenure as treasurer he was able to apply pressure to the bank’s chiefs not to raise rates as a result of the global credit crunch.

“They’ve taken the opportunity of a new treasurer who is not on top of the job to increase their margins and he came out and of behalf of the Labor Party he approved it,” Mr Costello said.

“I made it clear there were no grounds for the banks to increase interest rates,” Mr Costello said.

Treasury are not the only ones glad to see the back of Peter Costello.

posted on 11 January 2008 by skirchner in Economics, Financial Markets, Politics

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