The banks are, by their push for "bail-in", telling us in not so many words, that world banking is now an inherently risky business.
I suggest we take them at their word! When they say they want depositors to share their risk ( for a couple of % interest by the way), they mean it.
TBTF banks SHOULD be just that. Size should bring strength and stability.
The opposite is now true, no thanks to removal of vital regulation and bank greed which has seen them enter into incredibly risky gambling, using ordinary depositors funds as collateral.
So what are we going to do about it Australia? Are we going to say it's all too hard to fight, lie down and take it?
We can start to help protect our savings by checking out the Citizens Electoral Council website http://www.cecaust.com.au
and supporting them, because they are right on this case.
it seems to me that most people are either not informed, or in denial, about the fact that we face the real risk of losing the only safe institutional haven for our savings.
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