What should have been a simple task of producing an inquiry report asserting the government’s position that Senator Malcolm Roberts’ bail-in amendment bill is unnecessary is suddenly far more complicated.
The Senate Economics Legislation Committee is inappropriately gate-keeping the inquiry into the Banking Amendment (Deposits) Bill 2020 introduced by Senator Malcolm Roberts on 27 February.
Following is former APRA Principal Researcher Dr Wilson Sy’s response to Treasury’s and APRA’s submissions to the Senate Economics Legislation Committee’s Inquiry into the Banking Amendment (Deposits) Bill 2020.
Call politicians to demand public hearings and Parliament pass the Banking Amendment (Deposits) Bill 2020 to guarantee our savings deposits can’t be bailed in.
Of all the submissions to the Senate Economics Legislation Committee on the Banking Amendment (Deposits) Bill 2020 that have been published so far, the submission from Treasury is the most explosive.
A corporate collapse in Germany that may be little known to most Australians is being compared to the 2001 bankruptcy of infamous US energy trading giant Enron. Dominant cashless payments processor Wirecard collapsed on 25 June owing US$4 billion, with billions missing from bank accounts pointing to fraud on a massive scale.
