Demand the Treasurer intervene with bank CEOs and insist they earn their taxpayer guarantees and subsidies by maintaining branch services in communities.
All Australians should support this formal petition to Parliament:
Petition EN4244 - Moratorium on regional bank closures and new inquiry
Petition Reason
The Citizens Electoral Council has just released a 100-page handbook titled “The Next Financial Crash Is Certain! End the BoE-BIS-APRA Bankers’ Dictatorship.
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).
Now that Australia’s banks have had a number of years to heavily sell hybrid securities to retail investors, the Australian Prudential Regulation Authority (APRA) has confirmed that such securities will be the first bank liabilities written off—“b
