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The Forum > Article Comments > Reforming the revolving door between banks, regulators and legislators > Comments

Reforming the revolving door between banks, regulators and legislators : Comments

By John Murray, published 24/4/2018

The banks and the media outlets who carry their advertising can no longer fool us into believing that their interests are identical with our own.

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Yes, we are subject to a lot of regurgitated BS, propaganda and fake news with regard to our banks. Ours in name only but not in substance. I'm informed that foreign hedge funds have major positions inside our banks. Where their combined if entirely opaque influence gives then operational if covert control. Moreover, any tax relief will without question benefit foreign shareholders and few if any Australians, our representatives allegedly serve. And very reluctantly if at all, when left with no other option? For mine, we need the principal offenders to do jail time for criminal abuse of a once trusted system and one of just two pillars of our western style economy! Then there's a need for genuinely punitive fines for the exposed criminality. An entirely independent banking ombudsman with the inherent power of a royal commission with the power to compel sworn testimony. Our finance system must serve us, rather than powerful vested foreign interests that have effectively white-anted one of just two pillars, i.e. capital that supports our western style economy. The other being similarly price gouged, foreign controlled, energy. Alan B.
Posted by Alan B., Tuesday, 24 April 2018 11:56:21 AM
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Banks are not alone in the rape of truth: Having us believe in the fairness and encompassing power of Democracy to protect us from vested interests, intent on plunder for money, and an investment in the hope of the pirate, nothing changes to interfere in the progress of evil lawlessness of wealth creation.

The housing market manipulation by banks and their best buddies in politics, should feature as an adjunct to this enquiry.

My bet... nothing changes.
Posted by diver dan, Tuesday, 24 April 2018 12:05:35 PM
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Kevin Rudd taking on vested interest, you've got to be kidding John. He was the greatest vested interest ever in our parliament. Hell he even exceeds Turnbull's banking interest.
Posted by Hasbeen, Tuesday, 24 April 2018 4:00:06 PM
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HasBeen, I was not joking, I was referring to the history of Rudd's resources super profits tax, and about the mining industry advertising campaign that led directly to his replacement by Julia Gillard.

https://www.smh.com.au/business/a-snip-at-22m-to-get-rid-of-pm-20110201-1acgj.html

He took on vested interests, and promptly lost his job.

But, then again, it may have been a mere coincidence.
Posted by JohnM, Tuesday, 24 April 2018 5:43:54 PM
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