Westpac’s profit plunges by 62% – Is a long term investment pointless?

First, it was NAB, then ANZ and now Westpac (ASX:WBC) . The stereotypical safe investments are not looking so safe anymore. Profit plunges, dividend cuts, and frozen mortgage paymentsscream banking instability. Westpac’s $23 million lawsuit for money laundering, sex trafficking, and terrorism was bad enough. However, the dire consequences of COVID-19 could be the straw that […]