Major party politicians are putting the economic security of all Australians at serious risk by their misplaced confidence in the Australian Prudential Regulation Authority (APRA), the bank regulator.
The Big Lie of the Australian financial system is that it remained sound during the global financial crisis in 2008, due to the effective oversight of the Australian Prudential Regulation Authority (APRA).
Are federal MPs willing to vote for a bill that could allow the deposits of their constituents—individuals, businesses, non-profits—to be confiscated to prop up a failing bank?
The Citizens Electoral Council is calling on all concerned Australians to demand their elected MPs oppose the new draft bill giving the unaccountable bank regulator APRA dictatorial “crisis management” powers. Tell your MP that instead they should act now to prevent a banking crisis by passing a Glass-Steagall separation of deposit-taking banks from financial speculation.
The National Electricity Market (NEM) is wrecking Australia’s economy and endangering lives. For the sake of the Common Good it must immediately be shut down, and the generation, distribution and retail of electricity returned to public control.
Banking / Finance, Energy & Resources, National Banking
The prospect of a Hazelwood Power Station closure within months is unacceptable and the Victorian government must step in to take it over to ensure national energy security. Hazelwood supplies a quarter of Victoria’s baseload electricity, but also helps power other states such as South Australia, particularly on calm days when wind power is useless.
