In two weeks, the moral fibre of Australia’s political and judicial system will be put to its latest test when war crimes whistleblower David McBride is put on what is likely to be a secret trial.
He faces up to 50 years in prison.
NZ’s Ardern government has dropped a planned bail-in law, to avoid a backlash from an angry public who won’t want their deposits stolen; Kiwis and Aussies should demand their governments jettison all bail-in powers.
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