The Big Lie of the Australian financial system is that it remained sound during the global financial crisis in 2008, due to the effective oversight of the Australian Prudential Regulation Authority (APRA).
Although the Paris terrorist attack overtook the planned agenda of the 14-15 November G20 Leaders’ Summit in Turkey, nevertheless that summit accepted the Financial Stability Board’s (FSB) demand for a “bail-in” regime to prop up the 30 global too
Newly sworn in Prime Minister Malcolm Turnbull has a big black mark on his curriculum vitae, in the name of Goldman Sachs, that should ring alarm bells.
Ahead of the G20 Leaders’ Summit in Brisbane this weekend, the banker in charge of the bail-in agenda has announced the finalised plan to prop up Too Big To Fail (TBTF) banks, for agreement at the summit.
The interim report of David Murray’s Financial System Inquiry, released 15 July, pushes the case for supposedly solving the problem of too-big-to-fail (TBTF) by implementing “bail-in”—the system which includes confiscating customer deposits to pro
Joe Hockey’s denials about “bail-in” have again been officially contradicted, this time by his own Treasury department, in its submission to the Financial System Inquiry (FSI).
