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Who owns the banks? part 1

Posted by on in BANKSTERS
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We all know that there is no 'Truth In Lending' in Australia, and by the looks of it, not any where in the world.

The ABA Chief saying they are worried about their image makes me think of the school yard bully, pushing you over, stealing your lunch and threatening you with a beating if you tell anyone.

Have a closer look at just who these bankers are, and you'll find some interesting details about ownership:

Below are the details from the major banks Annual reports.  You'll notice immediately that there is an obvious pattern.  

The links are to their annual reports so you can see the truth yourselves.  It would appear that a few players own the market.  It rings a bell somewhere that this smells of monopolisation of the banking industry by a small number of overseas companies.

It is interesting to note that HSBC is a significant shareholder in many Australian banks, especially considering a US Senate report is accusing the HSBC of money laundering.  

Australia's Bank Shareholder Information

Commonwealth:  page 233

NAB  Page 165

ANZ:  page 220

Westpac:  Page 292

MacQuarie: Page 256 - all blanked out

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  • doyla66
    doyla66 Wednesday, 25 July 2012

    Perils of international business dealings

    Money laundering is a tricky one as is governance. Within international business it has a lot of unseen perils.
    One of the problems encountered is the cultural acceptance of certain conducts that we don't accept or legislate against in Australia. Some overseas trading partners consider Australia's legal and business conduct inappropriate within their cultural practices. Finding out what those cultural practices are can be very difficult as it's not always obvious either.
    With the US losing some of its super power lustre and wealth clout there are questions about the right of the Western world to impose its standards on other countries. Who would blame them for questioning the spread of our western ways with the reports in the media about US and EU! Australian businesses must be very careful in choosing their business partners, which clearly they haven't been. This business education and cultural exchange may have contributed to the lowering of Australian best practice business standards into the stinking mess we have now in the banking industry where corruption has become the norm and thousands of people are homeless while there's a glut of homes for sale. This is pure insanity and waste: for what purpose? When will the madness end?
    Our white collar crimes have become more sophisticated with influx of overseas business intelligence. We may have seemed a conservative backwater ripe for exploitation by our cousins in the US and UK. They may pull up stumps if we draw the line with stricter ethical compliances, consistent with our cultural expectations. Banking re-regulation is a start in the right direction and could send an important message to the international banking web of greed: Do it by our standards or don't bother calling.
    Without effective and front foot proactive work by ASIC and ACCC (we wish!) Australia could very easily be sold down the river for slave trade rates, and may already have been without our knowing. Is anyone in power at any time over the last 20 years going to admit they were part of this? Of course not.
    Without strong leadership Australia will see the continuation of "business as usual" where the Golden Rule applies: He (or she) who has the gold makes the rules.

  • doyla66
    doyla66 Wednesday, 25 July 2012

    So, it appears very clearly to me & anybody else who reads those 'transparent' Annual Reports that there is most definitely one rule applying for this banking industry in Australia & another completely different rule for the media industry with regards to ownership. The bleated long & loud about Packer/Murdoch/Rinehart but are completely silent on this?
    ASIC & ACCC as well as our useless Federal Government (both past & present, Liberal & Labor) are all asleep at the wheel when it comes to any part of governance. I suspect these twats do not even know the meaning of that word! Hello lawyers. Please explain your part in this massive oversight. We are waiting.

  • doyla66
    doyla66 Wednesday, 25 July 2012

    My guess is that no one in the Australian parliament is game to say a word about it! If we knew exactly what Australia's LVR is ie how much of the country is owned by overseas banks and others then we might understand how big an impact upsetting those interests is going to have on our country. Bank re-regulation may need to be phased in over a period of time. It looks like our banks have just functioned as conduits for sending our commonwealth elsewhere.

    The media cop it because no party wants to have to appease too big a media ownership block. It would be interesting to see who really owns what in the Australian media. How much is owned by overseas interests? A large media block could in effect direct government policy and practices. Conversely diversity in media ownership could to ensure a wider spread of opinion to inform and stimulate debate within the Australian electorate.

    Governance? Different rules. Governance is the theory of best practice. The implementation is much harder.

    If the government know what we know and understand the full implications of what has happened to our country thanks to the banksters there would be plenty of sleepless nights in Canberra and a lot of frightened pollies. There may be a collective agreement not to talk about it. The silence is deafening, like a media blanket. That instantly makes me suspicious. I wonder what Anthony Klan would say?

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