Fresh to her role as Australia’s top banking Judas, Anna Bligh has wasted no time in trashing the public interest:
The new head of the Australian Banker’s Association (ABA) – former Queensland premier Anna Bligh – has hosed down talk of a housing price bubble in her first day on the job.
Economist and former federal Liberal leader John Hewson recently proclaimed there was a ‘bubble’, caused by the “neglect and drift” of successive state and federal governments. He cited a rise in house prices of 250 per cent since the mid-1990s, with high household debt.
Ms Bligh echoed his sentiments on the ABC’s 7.30 program on Monday night. Asked by host Leigh Sales whether banks believed the nation was in the grip of a housing price bubble which would burst, leading to a price crash, she said: “That’s certainly not what I am hearing, but that doesn’t mean people aren’t keeping a very close eye on what’s happening and being very prudential.
“I think it’s fair to say that many Australians are looking at the housing market and wondering what might be happening. I would expect to see all of the regulatory bodies continue to monitor this. The [Reserve Bank] will take this into account again when it considers official rates [on Tuesday] and I can assure you banks are continuing to make sure their lending practices are as prudent as they can be.”
“It is the role of the regulator to adjust bank parameters when they see shifts in the market. This is not a regulator that is rigid, doesn’t change when the markets change, looks at things once a year and sees if they are OK. This is a constant monitoring.”
While doing nothing. Hang your very well paid and shameless head, Anna Bligh.
