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The Westpac $10 million
Tuesday, May 26th, 2009 at 7:58 pmSomething that has annoyed me about the coverage of the Westpac $10 million error is that Westpac did not accidentally give this couple $10 million. It gave them a $10 million credit facility.
In my mind there is considerable difference between someone finding $10 million in their account and spending it (while still illegal) and someone realizing their credit limit has been set too high, and withdrawing the maximum with no intention of paying it back. The latter is outright fraud.
Do others agree that there is a difference, and that it has not been made very clear?
Tags: fraud, WestpacTen year low in consumer confidence
Wednesday, March 26th, 2008 at 6:27 amThe Herald reports that the Westpac consumer confidence index has it a 10 year low at 96.5. The previous low was 94.2 in June 1998.
A net 19% of respondents say they are worse off than a year ago. Remember it was a year ago Dr Cullen cancelled the tax cuts he promised as people were not grateful enough for them.
Tags: consumer confidence, Westpac