Burgess, Rob: The banks didn’t save Australia – they ate it

Burgess, Rob

The banks didn’t save Australia – they ate it‘, New Daily, 6 October 2016

Analysis in the context of the appearance of banking CEOs before a parliamentary committee, which was followed by a proposal for a banking tribunal rather than a Royal Commission. The article includes graphs of the ten largest company profits in Australia in 2015 (the big four banks take the top four slots easily) and of Australia’s ten largest companies in terms of market capitalisation (again the banks take the top four slots). There is also discussion of where credit should lie for protecting Australia from the crash of 2008-09.

Honest History has collected and written a lot on banking. It is accessible here, including a number of links. Also this, which links to an Australia Institute report which shows that the Australian banking industry is the most concentrated in the world.

 

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