Australia desperately needs a “People’s Bank”, but the scheme announced by the Greens on 4 April is not such a bank. The Greens’ finance spokesman Senator Peter Whish-Wilson is a former investment banker, and he has distorted the People’s Bank concept into a typical investment banker’s scheme to effectively funnel even more credit into the over-stretched housing bubble.
The admission by the UK’s chemical weapons lab that it can’t verify the source of the alleged nerve agent blamed for poisoning Sergei and Yulia Skripal means that the Australian government expelled Russian diplomats on false information.
Russia expert and former diplomat and intelligence official Kyle Wilson claimed to Patricia Karvelas on the 27 March Radio National Drive program that Russian diplomats addressing a 2015 Citizens Electoral Council conference was an instance of Russian interference in Australian politics.
In its first fortnight of hearings, the Banking Royal Commission drew the nation’s attention to the huge problem of mortgage fraud. The hearings showed that each of the big four banks, which together control 80 per cent of banking in Australia, have engaged in fraud on a massive scale. The fraud is not confined to the margins of the home loan business, but infects the majority of mortgages, which means most borrowers can’t afford their loans.
The liars who orchestrated the illegal invasion of Iraq 15 years ago are today fabricating similar lies to whip up hostilities against Russia and China.
The terms of reference that Malcolm Turnbull gave to the Banking Royal Commission only allow it to examine specific failings of regulators in relation to banking misconduct. It is not allowed to examine “macro-prudential policy”, which is the regulatory structure of the financial system, and the policies of the Australian Prudential Regulation Authority (APRA), the bank regulator.
APRA/ASIC/ACCC/AUSTRAC, Royal Commission, Bail-in, Banking / Finance
