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.
Glass-Steagall is the only solution to the dangerous derivatives risk building up in Australia’s banking system, and the conflicts of interests being exposed at the royal commission that enabled banks to exploit customers.
Glass-Steagall, Royal Commission, Banking / Finance
Dr Wilson Sy of Investment Analytics Research, and former Principal Researcher at the Australian Prudential Regulation Authority (APRA), on 4 July issued the following explanation of why Australia needs a Glass-Steagall structural separation of banks. Bob Katter and Andrew Wilkie introduced Glass-Steagall legislation for Australia, the Banking System Reform (Separation of Banks) Bill 2018, in Parliament on 25 June.
Australia’s political class is quick to criticise the Chinese Communist Party (CCP) for its control of China, but when it comes to foreign policy, Australia is no less a one-party state.
