The Financial Services Royal Commission in its first fortnight of hearings in March laid bare the massive mortgage fraud in the major banks, and exposed the banks as criminal enterprises.
The terms of reference that Malcolm Turnbull gave to the Banking Royal Commission only allow it to examine specific failings of regulators in relation to banking misconduct.
When the government and financial authorities assure you your deposits are guaranteed, don’t believe them. They have proven time and again that in a financial crash they will put the survival of banks and their powerful owners first.
In the wake of the collapse of European banks including Spain’s Banco Popular, two regional Italian banks, and the bail-in/bailout of the world’s oldest bank, Monte dei Paschi di Siena, Europe has been debating new powers to allow bank accounts to
