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The Forum > General Discussion > Banking Royal Commission may not have got to the real problems.

Banking Royal Commission may not have got to the real problems.

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The Banking Royal Commission seems to have done a good job at cleaning up the bank problems BUT this letter implies there is more that was not investigated because of the terms of reference the banks asked for.

The letter the banks never wanted you to see: Secret note sent Scott Morrison show how the big four helped to water down the royal commission.

A secret letter addressed to the Federal Government has revealed how the big four banks helped shape the banking royal commission.

The letter, which was acquired by the Australian Council of Trade Unions under the freedom of information act, details how the banks thought the commission should be conducted.

National Australia Bank chairman Ken Henry sent the 'draft' letter to then Treasurer Scott Morrison on behalf of the chief executives of big four banks in November 2017.

'Dear Treasurer. Further to our discussions, attached is a draft letter sent on behalf of the major banks. This remains subject to final approval,' Dr Henry wrote.

A follow-up letter was then sent to Mr Morrison the next day, and the Turnbull government responded by calling for a royal commission, ABC News reported.

Australian trade unionist and political activist Sally McManus voiced her concerns over the letter during a live broadcast on Periscope on Tuesday.

Ms McManus said the letter basically described 'how good the banks are how they've been held up to scrutiny and that there's no problems.'

The letter made reference to how long the royal commission should go for, the type of person the commissioner should be, the terms of reference, and the scope of the commission, she said.

Ms McManus said the follow-up document from Mr Henry bared a striking resemblance to the 'draft' - with the exception of a few minor changes.

She then questioned how the correspondence might have affected the integrity of the royal commission.

'How can it be that you call a royal commission and you consult the very people now found to have been engaged in a whole lot of criminal behavior?

http://www.abc.net.au/news/2019-02-05/big-banks-ask-government-to-call-short-royal-commission-letter/10778928

http://www.dailymail.co.uk/news/article-6672107/The-letter-banks-never-wanted-see.html
Posted by Philip S, Thursday, 7 February 2019 1:05:21 AM
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I think that we can be pretty sure that the government, which ever sleazy bunch it is next year, will do nothing, as per usual. All the RC will have achieved is the chance to say 'told you so', and the likes of Comrade Shorten to keep harping on the fact that the Turnbull small 'l' liberals didn't want to have a RC at all.

Mr. Haynes was grumpy when he handed over his report to the treasurer probably because the knew his efforts would be wasted.

I'm sure there were cover ups, Philip, but isnt that our political class all over?
Posted by ttbn, Thursday, 7 February 2019 10:11:42 AM
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Still looking up info, so will comment later.

Here is a link to where the term of reference can be downloaded from.

http://financialservices.royalcommission.gov.au/Pages/Terms-of-reference.aspx
Posted by Philip S, Thursday, 7 February 2019 10:50:35 AM
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The Royal Commission also confirmed many greedy, unwise individuals who were kindly lent money by banks and then when their investments went bad, they blamed the banks. What a victimhood mentality we have created. Really the RC was a waste of money. Where the banks were unscrupulous they should of been dealt with by the law. Where people were greedy and unwise they should of learned a lesson.
Posted by runner, Thursday, 7 February 2019 12:03:43 PM
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ttbn Quote "Mr. Haynes was grumpy when he handed over his report to the treasurer probably because the knew his efforts would be wasted."

I have read the terms of reference I believe he was grumpy because they were too restrictive, especially page 3 and 4, I blame that on the letter from the bankers plus I would put money on phone calls and private meeting outside office.

The terms of reference document won't let you copy and paste bit so I can't put it here take too long to type everything out. sneaky.

Worldwide big banks have been fined for money laundering but that was not in the terms of reference.

Bet no big bosses are issued summons for anything, even though they had to know what was going on.

To give bonuses to lower level staff the bosses would be monitoring what profits each person was generating therefore if the profit was large they would have called that person in to show how they did it, too see if they could rollout the scheme to others. They had to know charging fees for no service was illegal, they had to know charging fees from accounts of dead people illegal, making fake accounts, putting money in peoples account etc.

I totally blame the Government for this whitewash it will have some good changes but the rot will still be there.

Politicians protecting their mates and the industry that gives them party donations, also where some politicians will go to work after leaving office.

NAB new boss will probably be Mike Baird the former NSW premier.
Posted by Philip S, Thursday, 7 February 2019 5:19:11 PM
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http://www.news.com.au/finance/business/banking/lavish-life-of-nab-bank-chief-of-staff/news-story/536c10d435e7c4edb25c6d06f683b5a0

Maybe they had crooks near the top.

Luxury lifestyles of Australia’s “worst bank” staffers as the National Australia Bank’s culture of extravagance for big spenders is revealed.

NAB bank boss’s chief of staff, Rosemary Rogers managed to build a $6 million property portfolio and allegedly take a $500,000 holiday.

As the fate of NAB boss Andrew Thorburn was sealed, with he and bank chairman Ken Henry both quitting today, the lifestyle of the now ex-chief executive’s staffer has come under the spotlight.

While ordinary Australians struggled to buy a house in the now-deflating property boom, NAB was raking in billion-dollar profits and throwing sumptuous perks at its executives.

NAB executives are renowned for extravagant holidays as part of a package of perks that included getaways in exclusive US retreats and luxury weekends at Australian wineries and boutique resorts.

But it is the acquisitions of the former NAB executive assistant that has raised eyebrows.

Fairfax reports police were investigating allegations Ms Rogers rorted $500,000 from the bank to fund a luxury resort holiday for herself and others.

News.com.au has confirmed that NSW Police searched Ms Rogers $3.8 million home in the elite Melbourne suburb of Williamstown last December.

Police are investigating whether a lack of oversight inside Mr Thorburn’s office led to the alleged fraud, Fairfax reported.

In NSW, the state crime command’s Strike Force Napthali is also investigating allegations of a multimillion-dollar corporate fraud after claims of overcharging and kickbacks at NAB.

Investigators have been told about a scheme whereby a person would allegedly receive corrupt commissions to authorise payments by a financial institution of invoices for a contractor, which were in excess of the agreed value of the contract.

In April last year, operating on three search warrants, it raided the Sydney offices of the Human Group, whose CEO Helen Rosamond worked closely with Ms Rogers organising executive events for NAB, The Australian Financial Review reported.

Last November it was revealed Mr Thorburn took a luxury holiday to a private island in Fiji where the rooms cost between $6000 and $45,000 per night, The Sydney Morning Herald reported.
Posted by Philip S, Thursday, 7 February 2019 5:49:36 PM
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Let's face it, the elephant in the room is now well and truly pissed off.
I said it before all this began and I'll say it again.
NOTHING will come of this farce, called the 'Banking Royal Commission'.
It's true name is the banking right royal con job.
Do you all think for one second, anyone was going to be 'really held to account or punished?
Do you all believe for one second that any 'real' changes are going to be made.
The Rothschild's 'own' and control pretty much or nearly ALL the banks in the world, even the Reserve banks, which are not actual banks, but are great influence over a countries finances.
Over time the Rothschilds created a group of the elite and wealthy business leaders in the world.
It's called, the Bilderberg Group.
They meet once a year to discuss their next atrocity/s.
They are the sick and twisted mongrels behind the 'One World Order'.
I will try to send a link to what will frighten most people and enrage the rest.

http://humansarefree.com/2013/11/complete-list-of-banks-ownedcontrolled.html

This family is by far the most dangerous in the world, and if it were up to me, I would have them rounded up and executed, leaving a message to the rest of this filthy group, that if they did not disband and relinquish their strangle hold on the world and it's politics and financial institutions, they too will become targets.
For those of you who think this is a little harsh, it's not.
When you think of the millions of people this disgusting family have, either had killed or financed the death of, you will want to kill them too.
Make no mistake, to people like this we are NOTHING, our only function is to make them wealthier.
Take a look around, you think Climate Change is a problem, well it's nothing compared to what these animals have yet to unleash upon us.
The reason Mr Haynes was 'pissed' is because the banks read the govt the riot act, as directed by Rothschilds, then the govt changed the haynes report as instructed.
Posted by ALTRAV, Thursday, 7 February 2019 7:39:18 PM
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HEY. Celebrations all around.
I just learned how to set up a link, for the first time, er, with help of course.
I wasn't going to type all that, trust me.
Anyway, I hope I can remember how to do it again for the next time.
YAY!
Posted by ALTRAV, Thursday, 7 February 2019 7:42:42 PM
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At least the RC has put an end to the NAB chief and the supremely arrogant Ken Henry.
Posted by ttbn, Thursday, 7 February 2019 8:24:16 PM
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ALTRAV,
The Rothschilds were a powerful force once, but events have moved on. It's a big family, and their fortune was divided many ways. They are still very rich, but plenty of other people are richer. And though some of the Rothschilds are still in banking, they're not colluding as they once were.

>I will try to send a link to what will frighten most people and enrage the rest.
If anyone is frightened by the bogus claims of a conspiracy nut, it's only because they're very gullible. I concede that being enraged is a reasonable reaction... IF that rage is directed at YOU! For you know from previous threads that there's no truth whatsoever in what it says.

The US Federal Reserve is the only central bank in the entire world to have any equity held by the private sector. All the rest were either completely nationalized or have always been entirely in the public sector.

Yet you would have the family murdered because you believe propaganda!

I'll say no more lest Godwin's Law is invoked.
Posted by Aidan, Thursday, 7 February 2019 10:02:55 PM
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Aidan, I will not challenge you on gullibility, we all have some in us from time to time.
What I won't hear of is this family being anything but evil.
There is that evil element still in play, the most cunning of them still holds sway just as the first deviant did.
You can believe what you want, I have read enough, more than enough, on this family to place them as the most dangerous family in the world.
I don't care that they are a mass of inbred freaks, nor that they still head the Bilderberg Group at their meetings once a year, or that they financed some of the biggest wars in history, and the list goes on.
Aidan if you want to see these people as harmless lost souls, then they have succeeded.
I cannot/ will not forget the words the original bastard had scribed in his will, that; The family must never be audited, and to this day there is no known amount of their true worth. Some have approximated it at $500 trillion, some at more than half the worlds cash worth.
All this proves is that because they must not be audited, so it is that there net worth is unknown.
They hold complete countries to ransom or financial blackmail to gain there own end.
Aidan, look I know what I have read and researched, and unless you can say that your research has shown them to be saints, I think I'll stick with my info, as it is cold and 'in your face' no holds barred facts.
The old bastard even decreed that they must not marry outside the family, and that's why there have been so many of them born slow or with physical and mental defects.
Aidan, I don't know why you would want to stick up for such a vial, evil bunch.
Don't you be gullible, or naive and try to refute my claims about this lot, before you reply, have a dig around, the link I included is a very good eye opener, and there are many more stories.
Posted by ALTRAV, Thursday, 7 February 2019 11:38:51 PM
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Come election time the voters can pass judgement on the mates of the Big Banks, that's Morrison and his government. Someone described the government proposed action against the Big Banks as "belting them with a lettuce leaf". No wonder their shares shot up so dramatically. One report suggested the Big Banks would be saving at least $800 million over the next year, thanks to the RC findings, and the governments proposed lack of action for up to a year.

For 16 months Scum O' and the government he's a part of resisted a Royal Commission into the banks, said they were all nice people. After voting 26 times to block the Banking Royal Commission Scum O' and co had to be dragged kicking and screaming before it simply got to hot for them, and an RC had to be called.

When you rob a bank, you get 10 years in jail. When a bank robs you they walk away with millions.

How much of a golden handshake will Henry and Thorburn walk away with from the NAB? Millions. Long jail terms is what the banking crooks should be getting not big payouts!
Posted by Paul1405, Friday, 8 February 2019 5:12:35 AM
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NAB's latest annual report said Mr Thorburn could be eligible for a termination payment of $1.05 million. A spokesman said this was yet to be finalised.
Posted by Philip S, Friday, 8 February 2019 1:59:42 PM
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Since the Hayne report, bank shares have “soared to their biggest one-day rise in more than two years while there was a drop of nearly 30 per cent in the share price of major mortgage brokers.”

The enquiry was into banks, but the mortgage brokers cop the punishment. And the banks have merely sold off their insurance and wealth management arms, where most of the scandals occurred.
Posted by ttbn, Friday, 8 February 2019 3:05:17 PM
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ALTRAV
>What I won't hear of is this family being anything but evil.
Exactly! You want to believe they're evil, so you simply ignore all evidence to the contrary. How would you feel if people were treating YOU that way?

>I don't care that they are a mass of inbred freaks,
But if you cared about the truth, you'd find they weren't. They've been breeding outwards for centuries, effectively diluting their wealth.

>nor that they still head the Bilderberg Group at their meetings once a year,
...except that they don't!

>or that they financed some of the biggest wars in history, and the list goes on.
Their assisting the defeat of tyrants has been a good thing overall.

>I cannot/ will not forget the words the original bastard had scribed in his will, that; The family must never be audited,
But you don't seem to understand that it has no relevance to the present. They're as audible as everyone else - the law of the land trumps a centuries' old will.

>and to this day there is no known amount of their true worth
The wealth of most people is not made public. So considering their family is made up of many people in many countries, of course the amount is not known. But estimates of it being half the world's worth are clearly ridiculous.

>They hold complete countries to ransom or financial blackmail to gain there own end.
That's certainly not true of Western countries. It could conceivably be true of some HIPCs, but I bet you've got no evidence for it!

>Aidan, look I know what I have read and researched,
Uncritically parroting the lies you have read shows you haven't researched in any meaningful sense of the word. It's obvious you haven't even read the Wikipedia page about them: http://en.wikipedia.org/wiki/Rothschild_family

(tbc)
Posted by Aidan, Friday, 8 February 2019 4:30:11 PM
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ALTRAV (continued)
>and unless you can say that your research has shown them to be saints,
So the truth is an unsatisfactory alternative for you?

>I think I'll stick with my info, as it is cold and 'in your face' no holds barred facts.
Lies rather than facts.

>The old bastard even decreed that they must not marry outside the family, and that's
>why there have been so many of them born slow or with physical and mental defects.
So many? Exactly how many? Are you even aware of any?
If it was a decree, they certainly didn't hold to it for very long!

>Aidan, I don't know why you would want to stick up for such a vial, evil bunch.
I haven't; I've stuck up for the truth. And the truth is they're not the vile evil bunch you make them out to be (despite their involvement in banking).

> the link I included is a very good eye opener, and there are many more stories.
It may be a good eye opener to what conspiracy nuts are thinking - the Rothschilds would rival Hillary Clinton for the number of lies about them. But if you want to know the truth, it's probably best not to start from a page known to comprise almost completely of lies!

I suggest instead you go to the Wikipedia page I linked to, and follow the links from there.
Posted by Aidan, Friday, 8 February 2019 5:12:33 PM
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Aidan, I stopped reading your post at the end of the first lot of comments.
I can catagorically say to you, that you clearly have NOT read up on this scum.
I also bring to your attention one of the reasons I might read WIKI, but not retain it's information, because the header on the page says it all.
Basically add-hock changes can be made to WIKI articles, so I treat WIKI as moot.
You believe what you want.
Even though I don't, it behoves me to point out that several of my points are in the WIKI text.
So, I suggest you read up some more on these pigs, and you too will begin to think badly of them as many are slowly realising.
BTW, when I said 'in-breading', I meant 'in-breading'.
Keep looking you will find the references to the children and their names, of what I am referring to.
They have ensured their public image is one of saintly perfection, just as I would expect of criminals.
I've done and still do my research and digging at every opportunity, so I have more runs on the board on the topic.
You can sprout 'conspiracy theories' till the cows come home, but unfortunately Aidan, what you find is exactly what they want you to find.
A family of Saints.
With their money and influence they can change history.
It is being done all the time.
Even Johnny Howard tried it, but got pushed back into his box.
So don't you get 'sucked in' to the stories that they were not the backers of many of the worlds atrocities.
Now, I've given you all a link which is based on facts, before you try to respond, read it and all the side stories, you will see a different picture unfold.
This is not WIKI, so no one can tamper with it and change the content.
This one expose' alone should give you enough to begin to question what you believe about this scum family.
Posted by ALTRAV, Friday, 8 February 2019 6:12:01 PM
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