The urgency of a Glass-Steagall separation of deposit-taking banks from dangerous speculation, is that it is necessary to protect Australians from a financial collapse.
In its last day of hearings on 27 April the banking royal commission asked Treasury, the regulators and the banks to justify so-called vertical integration, i.e.
Australia’s banking royal commission could be the shot heard round the world in the global battle for nations to take back control of their financial systems from predatory speculators.
Behind their public admissions that it was a mistake to oppose the Financial Services Royal Commission, the banks and their political stooges are already strategising how to ride out the storm.
