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Keywords: Banks

  • ARTS AND CULTURE

    Johnno vs the bloody banks

    • Brian Matthews
    • 28 November 2017
    7 Comments

    As a conversation opener, it wasn't that flash. I could have told Johnno that stories about the 'bloody banks' are so numerous and predictable that they're being used in sleep clinics. Still, one tries to do the right thing and so, steeling myself, I asked the crucial question. 'What's the story?'

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  • INTERNATIONAL

    What we think we know about the Syrian war

    • Justin Glyn
    • 19 September 2017
    8 Comments

    You could be forgiven for never having heard of Deir ez-Zor. There is virtually no mention of it in the Western press, except by British journalist Robert Fisk. Yet this ancient Syrian city of just over 200,000 people on the banks of the Euphrates is the site of what looks to be the final defeat of the dream of ISIS of creating an ethnically cleansed, sectarian caliphate in Syria and Iraq.

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  • CARTOON

    Modern fairy tales

    • Fiona Katauskas
    • 16 May 2017
    3 Comments

    This week's offering from Eureka Street's award winning political cartoonist.

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  • ECONOMICS

    Budget's bank slug flouts the property precipice

    • David James
    • 10 May 2017
    3 Comments

    The $6.2 billion the government will raise through a levy on bank liabilities not only shows how out of favour banks have become, it is also, in effect, a de facto tax on property lending - a counterbalance to negative gearing and capital gains tax breaks. It is a tax on property lending because nearly all the banks' loans are mortgages for housing, or business loans secured with property. Of course the banks will pass the extra cost on to their customers, so it becomes a tax on borrowers.

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  • ECONOMICS

    It will take more than a royal commission to tame the banks

    • David James
    • 10 October 2016
    2 Comments

    The strategy of the Big Four banks' appearance in parliament was clear enough. Blame the whole thing on a need to improve impersonal 'processes', imply that there have been a few bad apples but overall things are fine, and promise to do better in the future. The greatest challenge was probably to hide the smirks. A royal commission is being held up as an alternative, and no doubt it would be more effective. But a royal commission would not address the main issue.

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  • CARTOON

    Piggy banks

    • Fiona Katauskas
    • 05 October 2016
    3 Comments

    This week's offering from Eureka Street's award winning political cartoonist.

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  • RELIGION

    Purifying language vital to renewing 'polluted' churches

    • Andrew Hamilton
    • 01 September 2016
    15 Comments

    Dowling, who was a victim of clerical abuse, offers a program of reflections that bring together scriptural themes and the effects of sexual abuse. Most striking is the extraordinary labour required to purify the language of a tradition that has become polluted. This is vital not simply as a therapeutic exercise but as a condition for renewal and reconciliation. It may also be pertinent to wider society, where Brexit and the Trump phenomenon have been characterised by a coarsening of public language.

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  • INTERNATIONAL

    The merits of Trump's economic agenda

    • David James
    • 09 August 2016
    15 Comments

    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.

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  • ENVIRONMENT

    Is your super doing dirty work?

    • Thea Ormerod
    • 21 June 2016
    4 Comments

    An accelerating number of institutions and individuals are moving their money out of planet-heating fossil fuels and into climate solutions. The total assets guided by some form of divestment policy was $3.4 trillion at 2 December last year, 50 times more than what was up for divestment 12 months earlier. It sounds like a lot, but it's a small amount compared to the $100 trillion-plus invested in the usual way. That's our money, in banks and super funds, managed funds and insurance companies.

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  • ECONOMICS

    How financial markets are stymying climate action

    • David James
    • 15 June 2016
    7 Comments

    There is little doubt that the means to dramatically reduce the amount of pollution produced by developed economies is already theoretically available. It is perfectly possible to redesign industrial systems so that they do not pollute and do not consume finite resources at a rate that is unsustainable. But it requires a radical shift - and the biggest barrier to that shift occurring, the financial markets, is barely even mentioned in discussions of the challenge.

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  • INTERNATIONAL

    Calculated risks, incalculable rewards in India

    • Catherine Marshall
    • 27 May 2016
    3 Comments

    In 2013 I attended an event so exclusive, so unique, it wouldn't happen again for another 144 years. It was the Maha Kumbh Mela in Allahabad, Uttar Pradesh, where, over a six-week period, an estimated 120 million Hindu pilgrims converged on the banks of the Ganges, Yamuna and mythical Sarasweti Rivers in order to perform puja, or the cleansing of their sins. If we're open to what travel seeks to teach us, we'll gain from it the most superior of educations, and the most profound lessons in humility.

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  • AUSTRALIA

    Banking royal commission is popular, not populist

    • Andrew Hamilton
    • 26 May 2016
    7 Comments

    The evidence of misbehaviour by banks has become public at a time when the underlying ideology has also been criticised. The inherent unlikelihood that an economy based on individual greed will benefit the whole of society is now patent. It is seen as much more likely that unregulated competition for material gain will lead to the concentration of wealth in the hands of the wealthy and powerful. Evidence now suggests that inequality hinders the economic growth it was presumed to nurture.

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