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Scott Morrison voted against the Royal Commission into Banks 26 times. He continued to do little or nothing since, and even after the release of the Panama Papers were banks were found to be party to money laundering and tax evasion. He’s allowed the banks to to create an industry that simply ran riot over the Australian public farming profits for itself with little and no service provided in return,and now he’s allowing that system to continue. Australia has slid 6 places on the global corruption index since 2013 (ODT)

Five of the biggest investment banks in the world, including UBS, Barclays and Citibank, have been accused in an Australian class action lawsuit of operating a foreign exchange cartel using secret chat rooms titled “the Cartel”, “the Bandits Club” and “the Mafia”.

The banks, including JPMorgan and Royal Bank of Scotland subsidiary NatWest, have been accused of colluding to fix interest rates to the financial benefit of their own banks and to the detriment of other market participants including individual investors and businesses.

via Hunting ‘the Mafia’: Big investment banks face Australian cartel claim