Ponzi Scheme - Tax Preferred Oz Style
Hysterical. Just hysterical.
What is a Ponzi scheme? According to Wikipedia:
A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.
Take out the word fraud and you have banking in Australia. With a touch of tax preference.
Australian banks have a h…