Australia’s best-known finance commentator Alan Kohler was compelled to recognise the importance of the banking separation issue, by the sheer numbers of public submissions to the banking royal commission calling for Glass-Steagall.
A government Senator has contradicted Treasury and the ex-banker who controls the Senate Economics Committee and confirmed that the APRA crisis resolution powers legislation sneaked through Parliament in February is a “bail-in” law.
A government Senator has contradicted Treasury and the ex-banker who controls the Senate Economics Committee and confirmed that the APRA crisis resolution powers legislation sneaked through Parliament in February is a “bail-in” law.
The Citizens Electoral Council has today issued a new mass-distribution flyer on policy solutions to the oncoming global financial crisis, “The five-point program for Australia to survive the new global crash”.
More evidence has emerged that the APRA bail-in law passed in February does not exclude ordinary deposits from being converted into worthless shares or written off to prop up failing banks, a.k.a. bailed in, as some politicians assumed.
Dr Wilson Sy, a former Principal Researcher at the Australian Prudential Regulation Authority (APRA), the bank regulator, has issued a point-by-point refutation of the Commonwealth Treasury’s arguments against the need to separate Australia’s d
