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Archive - Apr 6, 2009

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Leadership: when many governments busy bailing out big business, Australian banks to give mortgage help to jobless

Australia’s biggest four banks: Commonwealth Bank of Australia, New Zealand Banking Group Ltd, National Australia Bank, and Westpac Banking Corp

To keep Jobless from becoming Homeless in the midst of economic turmoil, millions need direct financial aid. Australia now takes action though its unemployment rate stood at 5.2% in February, while in comparison, unemployment rate in U.S., for example, rose to 8.5% in March and homelessness rates across the States is soaring...

(quote)

The Australian government announced Sunday that the country's biggest four banks will give people who have lost their job up to a year free of mortgage repayments. After returning from G20 meetings in London, Prime Minister Kevin Rudd told an employment conference in Melbourne the mortgage assistance plan would alleviate the "anxiety and fear" the jobless feel when faced with ongoing payments.

Australia’s Prime Minister Kevin Rudd

Australia's big-four banks, which dominate the home loan sector, include the Commonwealth Bank of Australia (CBA.AU); National Australia Bank (NAB.AU); Westpac Banking Corp. (WBC.AU) and the Australia and New Zealand Banking Group Ltd (ANZ.AU). read more »

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