Reply To: Are the banks actually helping

Hi Andy
I wish it were true that we all helped each other and shared the pain. But if you have been a lawyer then you must know that when the shizzle hits the fan it is usually every man for himself. The party who holds the cash, or withholds it, is in the box seat and the other party has to litigate, taking years.
As far as I can see the banks to doing everything they can be reasonably expected to. By extending moratoriums and making new loans they are increasing their credit risk and it will come home to roost. The banks have shareholders and they are mum and dads in kiwi saver etc.
So are we asking those mum and dads many of whom will have lost their jobs to take more losses.?
IMO we are still in panic mode, and we need to focus on getting back to work asap. That is the only solution to all this. Let’s make sure the govt hears this,