1. Submission to Multi-Party Inquiry into Banking by interest.co.nz Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

2. Why the problem is not bank profiteering. The problem is New Zealand’s structural settings favouring housing investment. Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

3. Who are we to say this? Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

4. NZers care an awful lot about interest rates Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

5. Obviously banks are profiteering…right? Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

6. That’s a big gap. They must be creaming it. Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

7. Wholesale funding costs are up 100 bps Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

8. Local funding costs are up 150 basis points Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

9. Bank net interest margins actually fell Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

10. And they’ve been falling for a long while Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

11. The bias to farm and housing lending worsened in 2009 Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

12. And the connection is a foreign debt blowout Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

13. Who in this room has an LAQC or family trust? Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

14. Ever wonder what a loss of sovereignty might look like? Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

15. Reserve Bank Governor Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

16. Bank regulator Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

17. Currency Parliamentary Banking Inquiry- Wellington - Sept 2, 2009

19. More productive investment

20. Less property speculation

21. Land tax or Capital Gains Tax

22. GST on mortgages/rents?

23. Use capital adequacy rules

25. Thank you for your time Parliamentary Banking Inquiry- Wellington - Sept 2, 2009