OPINION: This week the Chanticleer podcast looks at a warning sign CBA’s booming profits, whether RBA governor Philip Lowe will withstand a political storm, and the most interesting thing CEOs told them during profit season.
Here are some highlights from the conversation:It’s a horrible expression, but people say “I’d sell my grandmother before I default on my mortgage”. I think this is the single biggest transaction that people have in their lives, and they do everything they can to hold on to it. And banks are very willing to extend the term of repayment from 25 years to 35 if they need to. I think we’ll get through this without a bad debt problem.
He’s a sensible, smart guy ... but he’s got a bit of a tin ear, and it’s starting to show. I can’t say there’s any chance that his contract is extended.It’s probably not going to be in place until 2026, and ASIC and the RBA are seeking assurances from ASX to make sure the current system will last at least until 2028. It’s amazing how long it’s taking.
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