A POET? MOI?

ODE TO A WRAITH

(A mortgagor’s lament)

Banksters lending into a bubble

was a recipe for trouble,

but their lending bravado

sent prudence out the window

as they led Australians astray

with mortgages they couldn’t repay.

 

Now bank CEOs have government’s ear

in promoting the fear

that they are too big to fail.

And “We’re not overpaid!” they wail

as the frauds they’ve perpetrated

leave mortgagors devastated.

 

It has always seemed to me

this happens too regularly,

so maybe the Henry Tax Review

should be listened to

in saying we need an all-in land tax.

That would keep bubble mortgages off our kids’ backs!

 

Land prices have proved to be a phantom,

that come and go with abandon;

and for such a wraith,

it is a misplaced faith

on which we securitise bank loans

but can’t foresee mortgagors’ despairing groans.

 

THE END!

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