The 18-page bill to separate the banks that Pauline Hanson will introduce into the Senate next week will do more to fix up the banking system than anything in Kenneth Hayne’s 1,133-page final report.
Royal Commission, Glass-Steagall, Banking / Finance
The government should direct the Auditor-General to conduct an independent audit of Australia’s Big Four banks, in light of the collapsing property bubble to which the major banks are massively exposed.
For 18 years Denise has fought, on a shoe-string budget, to save victims of mortgage fraud from losing their homes, and expose the inner working of the machinery—the so-called “black box”—that has enabled the banks to commit this fraud on a massive scale.
Royal Commission, Glass-Steagall, Banking / Finance
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.
Kohler wrote in The Australian on 3 December:
Royal Commission, Glass-Steagall, APRA/ASIC/ACCC/AUSTRAC, Banking / Finance
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”.
Glass-Steagall, National Banking, Infrastructure, Banking / Finance
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 deposit-taking commercial banks from investment banking and other financial services. See below.
