B of A buying a 5 person real estate team in Australia?

I read a snippet courtesy of CNN regarding the above. Very vague info, apparently the bank and the 5 person team hired was unavailable for comments. Background info, banks have been trying to get into the real estate game for a while. Some would argue with the recent onslaught of bank owned homes maybe they're getting a taste of what they wanted. The National Association of Realtors (NAR) has been battling & together with the US Congress has been able to fight banks from entering the RE world in the US due to anti trust laws etc. Plus there is a banking charter from the 1930's that specifically excludes banks entering the real estate business. Overseas the banks may be testing the waters who knows. Sounds fishy don't you think.

On a funny note: I heard a quote on NPR the other day - not sure who this came from but the joke goes - "a banker is one who lends you his umbrella when the suns shining and as soon as it starts to rain he wants it back". :)

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