Archive for May 2016

Taxpayer subsidy worth up to $3.7 billion for big four banks

This article shows that the bail-in model has not yet come to Australia. But they are working on it. And if you read the article, it is not a taxpayer subsidy at all. But most people will only read the headlines, and there was a similar headline in other Aussie papers this morning. It’s about softening up the public for the change.

You might notice the option to let the banks actually fail for bad business practice is not an option like it is for the average business. As the saying goes, they are “too big to fail”. If it’s not government funds that bail them out, it’s their depositors.

Bankers are a protected species and the bail-in model is part of the global plan. It’s now in place in the US and Europe and will flow around the world.

 

Richard

 

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