Capitalism On Trial
With the Banks Royal Commission still underway, it's unbeliable that the senate was asked to consider, and by default give a rubber stamp to, a voluntary code of practice written by the banks for the banks. Senator Peter Whish-Wilson moved that it be disallowed and for all the chest beating Labor did over the misconduct of the banks, they went ahead and voted for the shmuck of a voluntary code of practice that’s not even enforceable by the law. As you can guess Peter had a bit more to say about it so for those who have nothing better to do on a Saturday morning and are following this issue, you might be interested in listening to his speech.
The Senate blocks Peter Whish-Wilson's motion for a Banks Royal Commission in 2015
Today the Senate voted against the motion lodged by Greens Finance spokesperson, Senator Peter Whish-Wilson, calling on the government to establish a Royal Commission into misconduct within the financial services sector. Senator Whish-Wilson said, “It has taken one Senate Inquiry into ASIC, many brave whistle-blowers and some dogged investigative reporting by Fairfax newspapers to reveal systemic abuses and misconduct within the financial services sector.
Senator Whish-Wilson grills ASIC about dodgy payday lending practices
In 2015 Senate Estimates, Senator Peter Whish-Wilson quizzes ASIC about the actions they are taking in regards to dodgy payday lending practices.
Executive Pay, No Way
Today I asked the Senate to condemn the outrageous salaries and bonuses being paid to the CEO of Commbank and his senior executives despite scandal after scandal. Labor voted with the Government on my motion so they clearly don't think CEOs like this are paid too much.
Why we need to put a levy on the big banks
Senator Whish-Wilson's speech on why we need to put a levy on the big banks - companies who made $30 billion in profit last year alone. This levy could raise $6 billion over the next four years. Money that can go towards the public services we need to make this a better country. If we don't get legislation through that raises money from the top end of town then history shows that the Liberals will try to get the money from the unemployed, pensioners and the vulnerable instead.
Is an ad campaign against the bank levy tax deductible?
Can you believe this?! If the banks run a mining tax-style advertising campaign against the bank levy they can claim it as a tax deduction.