The Member for Kennedy, Bob Katter, is collaborating with the Citizens Electoral Council-led campaign for a Glass-Steagall separation of Australia’s banks.
The only way to protect the economy and your savings from a financial crash and “bail-in” is with a Glass-Steagall separation of the banking system, to protect deposits from speculation.
Under siege from erupting public opposition, the Turnbull government whisked its APRA crisis resolution bill through the Senate and into law on 14 February.
Australia’s big banks are careening along a cliff’s edge at breakneck speeds with ordinary investors strapped to their bumpers as human shock absorbers.
Treasurer Scott Morrison has fudged his latest attempt to defend Australia’s banks against calls for a full Glass-Steagall separation of deposit-taking commercial banking from riskier financial activities.
