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The main legislative catalyst for the GFC was the repeal, in 1999 by Bill Clinton, of the Glass Steagall Act, which had prohibited commercial banks from engaging in the investment business. This allowed the investment banks to indulge in the debauch of financial invention that almost destroyed the world's monetary system. Trump has made the reinstatement of Glass Steagall official policy. Should that happen, it could be the most beneficial development in the global financial system for decades.
The Palm Sunday Refugee Marches have come and gone; the travails of people who seek asylum continue. In a recent article that reflects her rich experience, Moira Rayner was right to say that marches are not effective in changing policy. Where they are, as in the Vietnam War marches in Australia or in Manila under Marcos, the fortress was already crumbling. Yet even when they are not effective, marches are not a waste of energy. Their value lies not in their effectiveness but in their ritual.
Studies confirm that sexualised images of slim young women used in advertising and popular culture lead to body dissatisfaction, psychological impairment and eating disorders. A new initiative from the non-profit LeanIn.org is fighting this entrenched culture through a partnership with Getty Images. It has created a photo library depicting females in many sizes, cultures and styles of appearance, but all strong and determined and in-charge.
The mass murder of unarmed civilians in Paris last weekend was appalling. Whether considered as an act of war or of terror, it was indefensible. The themes of war against terrorism and victory have dominated commentary on the killings. In light of the fact that the war against terror was the seedbed in which IS grew, they demand serious reflection. We should ask precisely what our enemy is attacking, what therefore must be defended, and what will be the signs of victory or defeat.
For those who believe, as G. K. Chesterton quipped, that the popular press is 'a conspiracy of a very few millionaires', the decline of mainstream media may not seem such a great loss. But the thinning of journalistic ranks is not good for democracy. In the world of business, old habits usually do not die at all — it is rather the businesses themselves that experience terminal decline. What journalism that does emerge from the ashes of the existing mainstream media businesses will be very different.
The Chris Brown ban has stirred debate on a number of fronts. GetUp has retreated from its campaign against the entertainer, acknowledging the racial aspect to it. And Brown himself argued that his mistakes should not be held against him, but should serve as a lesson for others: 'I am not the pink elephant in the room anymore.' With one Australian woman dying each week as a result of domestic violence, it is true there are plenty of other 'pink elephants' that need to be confronted.
We set off towards the beach and the esplanade that meanders towards what the better class of resident likes to call the 'village'. 'I prefer "township" – it's more Australian,' I said. Roy scoffed at what he called 'this "village" nonsense.' Referring to electronic theft of credit card numbers, online personal details, he said: 'I reckon there's also a phenomenon you could call locality theft.'
Childhood experience of violence is associated with many other aspects of disadvantage which, as a recent study shows, interact with and intensify one another. Violence at the home is likely to be linked to irregular eating habits, poor educational achievement, mental illness, contact with the justice system, and substance abuse. The challenge of responding to family violence is even more complex than that of protecting children from sexual abuse.
Words like rorter, bludger and leaner only ever seem to apply to those who apply for welfare. A politician who draws down unreasonably on entitlements or a banker who earns stratospheric bonuses are seen as passive beneficiaries of the system. It seems the case that only those with power or capital are allowed to blame systems. The rest of us get to be individuals who make choices.
Here's a story. A man who was a soldier in the American army in Iraq tells it to me. A friend of his, one of his best and closest friends, was nearly pierced through by a bullet fired by a sniper. American surgeons removed the bullet and discovered it was a 5.56mm cartridge manufactured in Lake City, Missouri. For profit.
Thanks to Senators Jacqui Lambie and Ricky Muir, we can once again trust our financial advisers. There are some things that are worth paying for. If somebody else pays for something, it's likely that we will get what they want, not what we need.
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