Australia’s most experienced advocate for victims of predatory bank lending has slammed as “insane” Prime Minister Scott Morrison’s policy to lower bank lending standards to boost economic activity.
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.
Australia’s big banks are careening along a cliff’s edge at breakneck speeds with ordinary investors strapped to their bumpers as human shock absorbers.
Treasurer Scott Morrison has fudged his latest attempt to defend Australia’s banks against calls for a full Glass-Steagall separation of deposit-taking commercial banking from riskier financial activities.