I know that knocking the banks is like shooting fish in the proverbial barrel.
However, it must be noted that the banks are utter utter bastards.
Not passing on (or only partially so) the latest rate cut is pure bastardry. No two ways about it.
I'm fairly sure when the Reserve Bank decided to cut the base interest rate it was thinking "we'll put the money back into people's pockets, encouraging spending, encouraging small business investment, maybe save a few jobs, maybe allow people to hang onto their homes in these difficult times, etc". I'm quite certain they weren't thinking "we'll do something nice to improve the big banks' profit margins. Poor dears are only looking at a $6 billion profit this financial year. Obviously they need all the help they can get".