There has been ongoing reporting of individual instances of bank malpractice and occasional reporting of large scale institutionalised malpractice. Reporting of the banking royal commission hearings has quickened the pace. But nobody, including the media, joins the dots: the key financial institutions are structurally given to corrupt practices, writes Evan Jones.
US gangster Al Capone once said: “Capitalism is the legitimate racket of the ruling class.” 19th century US president Thomas Jefferson said: “Banking institutions are more dangerous to our liberties than standing armies.”
These quotes capture the bastard nature of the dangerous racket that is the Australian banking cartel.
Australia’s big banks would like you to think they care about climate change and the environment. But don’t believe them.
A new report by Greenpeace Australia has revealed the “big four” — Westpac, ANZ, Commonwealth and NAB — are investing billions of dollars in Australia’s dirty coal boom.
Burning coal for energy is Australia’s single biggest contributor to climate change, making more than a third of the country’s greenhouse gas pollution. Australia is also the world’s biggest coal exporter — and the export trade is growing fast.