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.
royal commission
Finance industry workers are facing increasing pressure as banks seek to maximise their already hefty profits. Our jobs are becoming increasingly precarious, and all the while our wages and conditions are being threatened with cuts.
These days, if you walk into a bank, you’ll find very few staff and a lot of ATMs, which not only give cash but do almost everything a teller can do. You will also find a concierge, whose job is to shift customers to self-service via online banking. Tellers have performance targets for shifting customers online.
It seems that every other month we have another parliamentary inquiry into the banks. With so many regular appearances you’d think it would start to get boring.
Footage aired last week of children being abused in a Northern Territory prison sent shockwaves around the nation. These images forced us to grapple with the problem as if it were breaking news, despite the fact that so many people knew so much about it for so long.
Nevertheless, a royal commission is being established, and although many would like to see a wider scope, accountability for abuses of this nature must be the ultimate result.
ABC's Four Corners released CCTV footage on July 25 of horrific abuse of youth offenders in Darwin's Don Dale Youth Detention Centre, spanning six years of consistent abuse by detention centre staff of repeat offenders as young as 11 years old.
Some of the footage shows systematic abuse of youth offender Dylan Voller. Voller can be seen in solitary confinement being stripped naked and held down by staff. He can be seen beaten in front of other inmates for taking too long on the phone. Other incidents show guards trying to block cameras before beginning a round of abuse.
Malcolm Turnbull has called for a Royal Commission after seeing on ABC's Four Corners the brutality that has been happening under both his government and the previous Labor government.
He said this evidence had not been brought forth at previous inquiries. Not good enough Turnbull!
"Let's take the big banks head on over their crimes and their attempts to cover up their massive financial rip-offs, and nationalise them under workers' and community control," Peter Boyle, Socialist Alliance candidate for the seat of Sydney in the upcoming federal election, said on April 14. Boyle was responding to reports the banks were considering a huge advertising blitz against plans by the Greens and the Labor Party to launch a Royal Commission into the banking and finance sectors.
