Silvia-15 Posted October 9, 2008 Report Share Posted October 9, 2008 ah bankers unite?? i work for asb, and i know another member on here works also for bnz... popular job eh? Quote Link to comment Share on other sites More sharing options...
Heir Posted October 9, 2008 Report Share Posted October 9, 2008 Is it true ASB have minimum deposits of $500 to open accounts??? Just a rumour I heard the other day lol Quote Link to comment Share on other sites More sharing options...
phoenix44 Posted October 9, 2008 Report Share Posted October 9, 2008 yeah, lol i wish more ppl would understand that. i get asked if deposits are safe every single day. ha ha... Quote Link to comment Share on other sites More sharing options...
Heir Posted October 9, 2008 Report Share Posted October 9, 2008 yeah, lol i wish more ppl would understand that. i get asked if deposits are safe every single day. ha ha... I KNOW. :-? People say to me "is my money safe with you?" and my reply is always "why wouldn't it be?" I usually get blank looks followed by a firm smile before I do my whole "safe bank" speech. Quote Link to comment Share on other sites More sharing options...
Silvia-15 Posted October 9, 2008 Report Share Posted October 9, 2008 nope, i believe u can open with 0 bal, other than certain deposits obviously. we've upped out lending criteria by sooo much now its not funny, and our team target this month is 110mil lending. dream on, no one wants houses at these times, and no one is giving loans, what is management thinking! Quote Link to comment Share on other sites More sharing options...
Heir Posted October 9, 2008 Report Share Posted October 9, 2008 Yeah lending has slowed down. Thank god I'm not a lender! Quote Link to comment Share on other sites More sharing options...
phoenix44 Posted October 9, 2008 Report Share Posted October 9, 2008 NZ shouldnt loosen lending criteria - thats what caused all the american companies to go down. Frannie, Freddy and Lehman! Thats more than a Trillion dollars!!! since the NZ housing market is on the downturn - isnt it a good time to invest in property. for the long term that is? Quote Link to comment Share on other sites More sharing options...
Heir Posted October 9, 2008 Report Share Posted October 9, 2008 Yeah but nobody's got the money, if they have they're too scared to do anything with it. Quote Link to comment Share on other sites More sharing options...
phoenix44 Posted October 9, 2008 Report Share Posted October 9, 2008 the ban on short selling ends tonight for us. (WED 11.59 USA). the market is going to have one of the busiest days in history. so i would invest in the states at the moment, there are a lot of grossly undervalued companies (IBM for example). so there is money to be made.... just not by those who cant take some risks. but yeah the safest place for any money at the moment is a bank. wither that or upgrade your property while the market is low. Quote Link to comment Share on other sites More sharing options...
Heir Posted October 9, 2008 Report Share Posted October 9, 2008 yeeeaaaap Leaving all mine in term deposit with Rabo!! Quote Link to comment Share on other sites More sharing options...
phoenix44 Posted October 9, 2008 Report Share Posted October 9, 2008 ha ha yep! just realised that this has absolutely nothing to do with naming that fish, ha ha... Quote Link to comment Share on other sites More sharing options...
Heir Posted October 9, 2008 Report Share Posted October 9, 2008 haha I realised that ages ago! lol but I love chatting to people from other banks Quote Link to comment Share on other sites More sharing options...
David R Posted October 9, 2008 Author Report Share Posted October 9, 2008 NZ shouldnt loosen lending criteria - thats what caused all the american companies to go down. Frannie, Freddy and Lehman! Thats more than a Trillion dollars!!! An interesting letter on that subject; http://myslu.stlawu.edu/~shorwitz/open_letter.htm The general gist of it for those who can't be bothered reading it is that the governments forcing/encouraging the banks to take on all the sub-prime mortgages is what has caused the collapse. IE it isn't really a free market when it is being manipulated by the government. Another opinionis that there is enough money around for the banks to get themselves out of this mess, but the money from the government is much easier and less risky, so why wouldn't they wait for the bail-out... Quote Link to comment Share on other sites More sharing options...
phoenix44 Posted October 9, 2008 Report Share Posted October 9, 2008 An interesting letter on that subject; http://myslu.stlawu.edu/~shorwitz/open_letter.htm The general gist of it for those who can't be bothered reading it is that the governments forcing/encouraging the banks to take on all the sub-prime mortgages is what has caused the collapse. IE it isn't really a free market when it is being manipulated by the government. Another opinionis that there is enough money around for the banks to get themselves out of this mess, but the money from the government is much easier and less risky, so why wouldn't they wait for the bail-out... OMG THANK YOU! this will help me in my assignment. its all about the credit crunch in the US and NZ, the carry trade and the FX implications. Perfect! Thanks! Quote Link to comment Share on other sites More sharing options...
davidb Posted October 9, 2008 Report Share Posted October 9, 2008 oh and I thought it was bad having to write 7000 words about a swamp Quote Link to comment Share on other sites More sharing options...
livingart Posted October 9, 2008 Report Share Posted October 9, 2008 oh and I thought it was bad having to write 7000 words about a swamp i know some frogs and native flora and fauna who would call that a property valuation Quote Link to comment Share on other sites More sharing options...
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