Retired High Court judge Kenneth Hayne appointed banking royal commissioner

2 Comments

1. 

   TV Resident

   November 30, 2017 at 16:54

   Hopefully he is not a ‘mate’ of the wealthy politicians or the banks.
2. 

   Simon Warriner

   November 30, 2017 at 19:18

   here is a question I bet will not get answered at this very carefully stage managed RC:

   Why is it that the very profitable right to lend our money into existence is not in the hands of the government, but in the hands of “for profit” commercial enterprises?

   here is another:

   What level of taxation could be enjoyed by wage and salary earners if the government was the beneficiary of the income being generated by banks by lending money into existence.

   and one final question to put the lie to the oft made argument that banks lend the money deposited with them: please produce the ledger that shows the corresponding debit entry for the money handed over when a mortgage is generated.

   This RC is being requested of Turnbull by the Banks because the want to make absolutely certain that their very comfortable rorting of the nation is not exposed. For the small expenditure of some bribes to a few political mates they will keep their place at the trough. Looks corrupt to me, but who am I to judge.

   When a bank creates a loan, just remember they get the loan amount back, plus the interest. They had neither to start with. Not a bad reward for a few book entries and a bit of legal legwork around a copied document. No wonder the big 4 comprise over 35% of the total share market. How does that compare with the rest of the western world I wonder?