Press Releases

Yet another Senate inquiry into ASIC has been running this year. We believe ASIC has failed in its role. A corporate watchdog that hasn't got teeth will never do the job required. Corporate crimes will only diminish when perpetrators face serious consequences and punishments for their crimes & misconduct. ASIC should be subject to significant reform or axed. Corporate crooks need to know that their victims will be properly compensated and their ill-gotten gains will be confiscated as they are being placed in a jail cell.

This approach puts in place a powerful incentive for companies and their staff to participate in the market with honesty and higher level ethics.

Is this the biggest budget leak in Australian history ..... or is it the biggest fantasy? Does the ALP have the ticker for structural reform? This is the budget we have to have. Maybe it can help us stop the depression we certainly don't need to have.

Although flawed; Labor’s Promise to SME’s and Farmers was the first time that a major party committed to start building a fence at the top of the cliff. All we have had, up till now, is a hearse at the bottom of the cliff, that carted selected corpses off to the coroner’s ASIC and APRA for post-mortem. Even then they only retrieve some of the bodies, most who fell, or were herded by AFCA, or were pushed by a Bank, ended up in a mass grave and forgotten. On the rare occasion when a consumer did survive the fall, mortally injured they are generally ignored, or worse placated. Damaged, broke and disillusioned, they wander in a form of limbo, in search of some form of justice or even a friendly audience.

Michael Sanderson is an ex-farmer who lost his farm due to bank miscon­duct and AFCA being not fit for pur­pose. He is a foundation member of Bank Warriors and an Advisory Panel member of Bank Reform Now.

Who thinks it makes much difference which party wins an election? Here we expose the harsh truth .... it's not a pretty picture but unless you know about the powers that run the show you'll keep hoping that your vote will make a difference in four years time. A two party structure gives the illusion of choice only. Real change comes with policies that returns power to the people.

Craig Caulfield and the bank warriors keep up the pressure despite COVID restrictions. A proper Virtual AGM would allow shareholders to ask any appropriate question desired. There is no excuse for banks to filter and censor the discussion. The AGM is the best opportunity to point out bank problems. The bank boards and senior executives must be held accountable in a transparent fashion. Public scrutiny is essential to bring about reforms that will make the banks operate ethically and honestly.

A great report from Craig and the team. See the questions CBA did not want discussed. It's an eyeopener.