As the year 2014 comes to an end, the Australian banking system is still in disarray; in fact it has never been worse.
We have seen the scandal of the Commonwealth Bank Financial Planners debacle with is so-called rogue planners, which has helped to lose some of its customers' life savings. CBA customers have lost millions of dollars.
A senate Inquiry found fraud and some of those responsible inside CBA have advanced since the disaster.
But despite the work of Fairfax Media Adele Ferguson and Chris Vedelago there won't be a royal commission into the Commonwealth Bank.
An announcement came from Finance Minister Mathias Cormann saying that he did not think a royal commission was necessary, saying there had already been "several comprehensive inquiries into these events" and another one wouldn't be necessary. Adele Ferguson called it a whitewash.
CBA have appointed consumer law firms Maurice Blackburn, Shine Lawyers and Slater and Gordon to act as "independent customer advocates" on behalf of aggrieved clients seeking compensation.
We have also seen, and are still seeing the treatment of our Aussie Farmers. Farmers all over Australia are in the midst of a very bad drought. Unable to feed or water their stock, there has been very little assistance from our Government to help subsidise our farmers in these extremely tough times.
But the banks have little consideration for our farmers in drought. Hundreds of Farmers have had to face eviction and homelessness and have lost everything because of Bank Greed. It is truly appalling that bank profits come before the needs of our farmers. And our Government gives millions of dollar to overseas countries before the needs of our farmers.
Australians are appealing to their Councillors and Politicians calling for a Moratorium to stop banks from foreclosing on our farmers in drought and change the policies in the system, so our farmers can still operate, feed themselves and remain on the their land. Many farmers all over Australia are being evicted and forced off their land by the banks now in Australia. It is disgraceful and horrendous.
EVICTION AND HOMELESSNESS SHOULD NOT BE THE OUTCOME OF FARM DROUGHT-STRICKEN DEBT.
On a good note Bank Victims ran a Campaign to help save “Salt Glen”. One of our precious Aussie generational farmers. Through the generosity of Australians we were able to stop Rural Bank from foreclosing on Mrs. Priestley, and taking her home and farm. A huge thank you, to all who participated and donated.
With the G20 on us Bank Reform Now has begun a campaign requesting the Government to include Bank Reform Now on the G20 agenda. The support from the Australian public has been immense. With reports and articles of bank corruption and dirty bank practices.
However the main stream media only skip around the edges and won’t report on the true facts and affects that BANK GREED is having on the Australian people. Individual cases of the banks destroying people’s lives and consuming their life savings, everything they have worked for all of their lives and reducing them to nothing, it is appalling that our Government has allowed this to happen!!!
IT IS NOT ACCEPTABLE.
We will continue the fight.
I would like to thank all of our correspondents in the USA, UK and Australia for their input and dedication to the fight and the team hope to catch up in Singapore June 2015 for our inaugural conference.
Ph: 1300 366 923