Big Four Banks

New call for 鈥榩eople鈥檚 bank鈥 to challenge the Big Four

Greens leader Richard Di Natale has backed calls for a new 鈥減eople鈥檚 bank鈥 to challenge the power of the Big Four mega-banks. He told the National Press Club on March 15: 鈥淭he time has come for a people's bank, one that injects real competition into the banking sector.鈥

Senator Di Natale drew on the example of the state-owned KiwiBank in New Zealand, run by the NZ Post Office. A similar operation in Australia would boost competition, push down fees, help young buyers enter the property market and deter 鈥渦nscrupulous behaviour鈥, he said.

No interest in fixing the housing crisis

Chairperson of the Australian Prudential Regulatory Authority (APRA) Wayne Byres recently said that he would not use the to describe the housing market, preferring instead to use 鈥渉eightened risk鈥 rather than housing bubble.

Mike Baird鈥檚 hopeless quest to build 'respect' for National Australia Bank

"Former NSW Premier Mike Baird has enthusiastically accepted a job at the National Australia Bank as chief customer officer, in order to spend less time with his family," The Chaser revealed on February 28.

"Baird has reported an exhausting five weeks spending quality time with his children. According to Lucy Baird, his eldest daughter, Baird's return has polled badly among the family, following his controversial policy of putting his children to bed two hours earlier than they were previously used to.

Anna Bligh cannot save banks from the public鈥檚 outrage

The appointment of former Queensland Labor premier Anna Bligh as CEO of the Australian Bankers' Association (ABA) is a desperate public relations ploy by the Big Four Australian banks to head off a looming royal commission into their crimes and misdeeds.

It seems unlikely to succeed, given the anger in the community against the Big Four 鈥 the Commonwealth, National Australia Bank, Westpac and ANZ 鈥 and their systematic gouging of the general public.

Nationalise the Big Four banks

Australia's Big Four banks 鈥 the Commonwealth, NAB, ANZ and Westpac 鈥 are the most concentrated and profitable set of banks in the world. These mega-banks are cutting their workforces, while paying their executives huge salaries and bonuses. They should be placed in public hands.

Maules Creek and the final void

When then-Minister for the Environment and Water Tony Burke signed over more than 1500 hectares of native vegetation, including endangered woodlands, to Whitehaven Coal in 2013, he did so amid contention and uncertainty. It would not go unchallenged.

Today, a parapet of accumulated earth protrudes from the Leard State Forest. The Maules Creek open-cut coalmine is now fully operational. But when exploitation ceases, the crater left in the mine's place will not be filled for centuries.

Campaign against Galilee Basin coalmine turns up the heat

As the Galilee Basin project faces legal challenges by Aboriginal and other community groups and international banks refuse to finance it, the environment movement is focusing its campaign on ensuring that the Australian Big 4 banks also withhold finance.