Freedom movement folk have rightly perceived that the real problem behind the banking Royal Commission, the herd of elephants in the room, is that perennial problem of centralisation and monopolisation; that the banks are too big, and have all the problems of bigness. Fortunately, Bob Katter introduced into the House of Representatives in June 2018, the Banking System Reform (Separation of Banks) Bill, and it will soon be introduced into the Senate. This will deal with the “dirty tricks’ problem that has been outlined in a February 7, 2019, Media Release by the Citizens Electoral Council, entitled, “ Treasury’s Dirty Trick in Hayne’s Report.” After reading this Media Release, we must all lobby to make sure the Katter Bill becomes law.
“Above all else, the banks were desperate that Commissioner Hayne’s final report didn’t recommend structural separation; according to journalist Michael Pascoe, this was the subject of the illegal insider trading leak that caused bank shares to suddenly rise at 11:00 AM on Monday. Treasury, which has a revolving door with the banks, epitomised by Dr Ken Henry who wrote the letter on behalf of the banks that gave the all-clear for the royal commission on certain conditions, ensured the banks got their way. Former APRA Principal Researcher Dr Wilson Sy, who has direct experience with Treasury’s methods, explains how. The Australian Treasury has played dirty tricks on the public in the final report of the Hayne Royal Commission (HRC). This was probably why Kenneth Hayne refused to shake hands with the Treasurer Josh Frydenberg on its delivery. The public does not know that the HRC final report was not written entirely by Kenneth Hayne (KH), but substantially by the Treasury.