Image for ‘Victims of bank corruption suffer emotional trauma on top of financial ruin’

*Pic: Suzi Burge, a victim of the Commonwealth Bank ...

Dr Evan Jones explores a legal system that views signing a contract of their own “free will” as evidence that foreclosed bank borrowers are victims of their own incompetence …

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Tess Lawrence ... another victim ...

One dimension of bank malpractice that has been off the radar is the trauma suffered by the victims. Long-term trauma, permanent trauma. The media shock, horror sound bites don’t do justice to this widespread nightmare.

One NAB victim notes,

“We know about post-traumatic stress disorder in military personnel after experience on the battle frontline, but no-one talks about PTSD affecting victims of the corrupt financial sector in Australia.”

Small business and farmer victims, and selected mortgagors have lost everything. But beyond the financial loss is the ensuing psychological and physical damage.

Some people commit suicide. Family coherence is destroyed, with family members becoming estranged. Marriages regularly break up. Some marriages survive but they are often broken. Moreover, the trauma is bequeathed to the next generation at the least …

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Associate Professor Evan Jones is a retired political economist. He taught at Sydney University from 1973-2006. He has been writing on bank malpractice against small business and the family farmer for over a decade.