Search Results: banks

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  • ECONOMICS

    Why the rich are getting richer

    • David James
    • 18 November 2014
    6 Comments

    Investing capital in the production of goods and services may create jobs, but it's not the best way to make money. It's more profitable to manipulate the financial system to create more money from money, which is why the finance sector does so well. The polarisation of wealth is less extreme in Australia, but we have our own capital-driven Ponzi scheme - the residential property market, which has become an exercise in making money out of money. 

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  • RELIGION

    Which bishop is challenging the bank on fossil fuels?

    • Jill Sutton
    • 11 November 2014
    3 Comments

    There has been an avalanche of divestment, including from the Rockefellers and the ANU, as they discern a lack of concern for environmental, social and governance issues. Shareholders attending Wednesday’s Commonwealth Bank AGM will hear a resolution requesting more transparency about the bank’s fossil fuel investments. But the bank’s response can seem like a game whose rules only become clear to its participants as they play it. Banks and other powerful organisations can still exploit any lack of clarity. 

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  • AUSTRALIA

    The Americanisation of Australia's universities

    • Sarah Klenbort
    • 09 November 2014
    23 Comments

    The US, whose citizens owe more on student loans than they do on credit cards, is the land of deregulation. Australia’s Education Minister Christopher Pyne has the support of university management in his desire to see Australia to follow the US path. But it is clear to lecturers, tutors and researchers that this will only create more inequality, mainly by forcing people without money to either miss out all together on higher education or go into a huge amount of debt.

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  • ARTS AND CULTURE

    Australian history through the eyes of a dirt digger

    • Barry Gittins and Jen Vuk
    • 23 October 2014
    9 Comments

    Satirist David Hunt's best-selling Girt The Unauthorised History of Australia prompted Joe Hockey to offer him a job as speech writer. There’s plenty of dirt. Australia was the place to be, writes Hunt, 'unless you were black. Or a woman. Or gay. Or suspected of being Irish. Or even worse, all of the above'.

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  • INTERNATIONAL

    An erstwhile pacifist's IS quandary

    • Gillian Bouras
    • 01 October 2014
    11 Comments

    I used to style myself a pacifist. Or hoped I was one. Or something. But that was before I had children. The minute I clapped eyes on my first-born, I realised that any threat to him would see me transformed into a murderous monster, and I later felt the same about his two brothers.

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  • ECONOMICS

    Australia's delayed GFC

    • David James
    • 07 September 2014
    7 Comments

    What is only now starting to come into focus is the extent to which the whole economy is in hock to house prices. A sharp fall in the housing market will put intense pressure on our major lending institutions, leading to a deeply depressing effect on all parts of the economy. The regulators, as ever, are taking a hands-off approach.

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  • MARGARET DOOLEY AWARD

    Inequality matters

    • Harry Maher
    • 19 August 2014
    14 Comments

    Inequality is dangerous. And inequality is at a near all-time high. At its core, the Government’s recent budget not only engenders but actively exults in the creation and maintenance of inequality, a phenomenon rapidly expanding not just in Australia, but around the world.

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  • ARTS AND CULTURE

    The shock of the news of Kennedy and Nixon

    • Brian Matthews
    • 14 August 2014
    3 Comments

    Last week, when I heard a Margaret Throsby interview with Nixon's White House Counsel John Dean, I immediately remembered in startling detail where I was forty years ago. It was high summer, a beautiful warm day in Oxford. I was strolling along the banks of the Thames through a leafy camping ground; a voice, tragic yet culpable, retrieved from an unseen radio on 8 August 1974 in another country.

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  • ARTS AND CULTURE

    The original orphan

    • Tony Kelly
    • 28 July 2014
    2 Comments

    Poor old fellow, angular, pinched awkward man, taut and pink-faced ... Everyone hesitates to take him in, wincing at his eagerness, and protecting conversation from his fantastic interruptions ... recently he discovered the name of his mother, long dead, and found some brothers ... Now a gush of communication after the long legal amnesia, he reports a big barbecue to celebrate the discovery of belonging after all.

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  • ECONOMICS

    Commbank plunder part of new world economic order

    • David James
    • 06 July 2014
    7 Comments

    As the Pope and economist Thomas Pikkety have observed in recent times, the inequity created by capitalism is a growing concern. But the problem with this argument is that 'capitalism' is too broad a term. The attack would be far better directed against the financialisation of developed economies. A new type of sovereign has emerged, and like all rulers they are cheerfully engaging in acts of plunder.

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  • AUSTRALIA

    Tamils facing new atrocities in Sri Lanka

    • Paul White
    • 03 July 2014
    39 Comments

    On Monday we learned that two boats of Tamil asylum seekers had been intercepted off Christmas Island. Now there are unconfirmed reports that Australia is handing them over to the Sri Lankan navy without assessing their claims for protection. Amnesty warns Tamils face the risk of sexual violence, torture, murder, imprisonment, and enforced disappearance. Since March this year there have been scores of arrests and several deaths.

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  • INTERNATIONAL

    Cambodia's patchy refugee record

    • Denise Coghlan
    • 23 June 2014
    5 Comments

    In 2009 Cambodia enacted its own laws concerning refugees. If asylum seekers are found to be refugees they are given a prakas that allows them to stay legally in Cambodia but which is not accepted as a proof of identity by most employers, businesses and banks. The sense of insecurity of those seeking asylum is heightened by the memory of the 29 Uighur asylum seekers who in 1995 were deported from Cambodia to China at gun point.

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