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The Australian (Advertisement) To the Australian Parliament: Don’t seize our bank accounts− pass Glass-Steagall! e, the undersigned, are unalterably opposed to the legislation speculation has caused the present fi nancial crisis in the fi rst place. But, of the Swiss-based Bank for International Settlements which is over- now being drafted to enable the “bail-in” (seizure) of Aus- as in Cyprus, such legislation will plunge this country into mass misery seeing the global bail-in process; that report explicitly states on page 5 Wtralian bank deposits as happened in Cyprus in March of this and even worse. that such legislation is “in-train” for Australia.1 The FSB and the IMF year. The stated purpose of such legislation, in Australia and interna- There is overwhelming evidence that legislation is being planned for have classifi ed Australia’s “Big Four” banks as “Systemically Import- tionally, is to save the “Too Big To Fail” megabanks whose unbridled Australia, as in a 15 April report of the Financial Stability Board (FSB) ant Financial Institutions”, which must be saved at all costs. The Solution Instead of “bail-in”, the Australian Parliament must pass legislation duced into both the U.S. House of Representatives and Senate, as well We say: No to speculation and the seizing of bank accounts; Yes, to modelled upon the U.S. Glass-Steagall law which functioned so suc- as in numerous other countries. rebuilding Australia’s physical economy, with well-paying jobs for any cessfully from its passage in 1933 until its repeal in 1999, which sep- Urgent though it be, Glass-Steagall legislation is not suffi cient by Australian who wants one. arated commercial banking from investment banking. Without such a itself to ensure a recovery of Australia’s actual physical economy. Finally, we vow to help to drive from offi ce any Australian Member separation, banks are free to speculate with customers’ deposits, which, Therefore, we also demand the establishment of a National Bank mod- of Parliament who signs his or her name to legislation for bail-in, but for instance, is why Australian banks now hold some $21.5 trillion in elled upon that of King O’Malley’s original Commonwealth Bank, to to likewise do all within our power to support any MP who sponsors highly risky derivatives. Numerous prominent individuals−even from fi nance the construction of great infrastructure projects as the corner- or votes for an Australian Glass-Steagall bill, and for a National Bank. the City of London and Wall Street−have spoken out to urge the re- stone to rebuild Australia’s once-proud manufacturing industries and 1. Implementing the FSB Key Attributes of Effective Resolution Regimes−how far have we come? p.5, 3.1 instatement of Glass-Steagall, and legislation to do so has been intro- its family farms. (1). http://www.fi nancialstabilityboard.org/publications/r_130419b.pdf Local Government Cr. St John Smith, Waratah-Wynyard Councillor, Political Party Officials Jason Blake, Senate Candidate for NSW, The Australian Unions Anthony Grigor-Scott, Minister of Gospel, Bible Believ- Cr. Semra Batik, Auburn City Councillor, Auburn, NSW Flowerdale, Tas. Leon Ashby, Member of Management Committee, Fmr. Republicans, Nelson Bay, NSW Paul Cousins, Federal President, Australian Licenced ers’, Currabubula, NSW Dr. Russ Dickens OAM, Dep. Mayor, Blacktown City Cr. Leigh Wilson, Campaspe Shire Councillor, Rochester, Vic. President No Carbon Tax Climate Sceptics, McKellar, ACT Kerry McNally, Senate Candidate for NSW, The Australian Aircraft Engineers Association, Bexley, NSW Denis Barnard, Senior Pastor, Baptist Church, Cornubia, Qld Council, Blacktown, NSW Cr. Rosalie Crestani, City of Casey Councillor, Hallam, Vic. Ann Lawler, National Chairman, Citizens Electoral Council Republicans, Ashfield, NSW Kevin Bracken, Victorian Branch Secretary, Maritime Mike Brownhill, Church Pastor, Clontarf, Qld Cr. Alan Pendleton, Blacktown City Councillor, Schof- Cr. Brian Crook, Colac Otway Shire Councillor, Colac, Vic. of Australia, Farley, NSW Peter Flynn, Candidate for Lingiari, Citizens Electoral Union of Australia, Port Melbourne, Vic. Maurice Schutz, Fmr. Secretary, Point Pass Lutheran ields, NSW Cr. Ben Buckley, East Gippsland Shire Councillor, Dr. Simon McCaffrey, NSW President and Senate Council of Australia, Humpty Doo, NT Theo Samartzopoulos, Assistant Secretary, Plumbing Church, Eudunda, SA Cr. Nan Cowling, Coffs Harbour City Councillor, Coffs Benambra, Vic. Candidate for NSW, Democratic Labour Party (DLP), Mile Stankovic, Senate Candidate for NT, Citizens Elector- Trades Employees Union (NSW Branch), Alexandria, NSW Valerie Bussenschutt, Minister of Religion, Tanunda, SA Harbour, NSW Cr. Max Oberlander, Glenelg Shire Councillor, Portland, Vic. Hunters Hill, NSW al Council of Australia, Tiwi, NT Keith Ryder, Fmr. Vic. State Secretary, Australian Stevedor- Peter Olney, Founder & Secretary, BMC Ministries Inc. Cr. Craig Doyle, Gosford City Councillor, Gosford, NSW Cr. Gilbert Wilson, Glenelg Shire Councillor, Portland, Vic. Mick Williams, Foundation Member/State Committee Vernon Work, Senate Candidate for NT, Citizens Electoral ing Supervisors Assoc; Candidate for Goldstein, Palmer United Mitcham, Vic. Cr. Denzil Sturgiss, Goulburn Mulwaree Councillor, Cr. Nathan Hansford, Golden Plains Shire Councillor, Member; Candidate for Macarthur, Katter’s Australian Party; Council of Australia, Wanguri, NT Party, Hampton East, Vic. Amila Jayasinghe, Civil Engineer, Taxi Driver, Sri Lankan Tarago, NSW Bannockburn, Vic. Yard Delegate, Transport Workers’ Union, Bradbury, NSW Alfred Gould, Candidate for Lingiari, Independent, Alice Ivan Walton, Fmr. State Secretary, AWU - Glass & Con- Community, Forest Lake, Qld Mr. Max Eastcott, General Manager, Gwydir Shire Cr. Angela Long, Mayor, Greater Dandenong City Coun- Andrew Thompson, Secretary/Registered officer, Non-Cus- Springs, NT tainer, Bassendean, WA Jeanette Staehr, Civil Marriage Celebrant, Barmera, SA Council, Bingara, NSW cil, Dandenong, Vic. todial Parents Party (Equal Parenting), Douglas Park, NSW Doug Boag, Senate Candidate for Qld, Australian Protec- Bill Game, Fmr. Secretary, CEPU, Electrical Division (WA), John Campbell, Community TV Producer, Metro-TV Inc., Cr. Mick Gallagher, Hornsby Shire Councillor, Fmr Cr. Allan Comrie, Moorabool Shire Councillor, Bacchus John Flanagan, Deputy Registered Officer; Candidate for tionist Party, Salisbury, Qld Middle Swan, WA Poowong North, Vic. Mayor, Ex-Serviceman, Mount Colah, NSW Marsh, Vic. Cunningham, Non-Custodial Parents Party (Equal Parenting), Rick, Heyward, Senate Candidate for Qld, Australian Laurie Preston, Fmr. President/Convenor, AWU-Pinjarra Gordon Hunter, Primary Producer, Gulargambone, NSW Cr. Peter Astridge, Hunter’s Hill Councillor, Hunters Hill, NSW Cr. Colin Ryan, Moyne Shire Councillor, Port Fairy, Vic. Thirroul, NSW Protectionist Party, Scrubby Creek, Qld Branch; Fmr. Shire of Murray Councillor, Pinjarra, WA Ernest Kitto, Farmer & Grazier, Tallimba, NSW Cr. Bruce Morris, Kempsey Shire Councillor, Euroka, NSW Cr. Lorraine Thomas, Ashburton Shire Councillor, Bevan Collingwood, National Secretary, Australian Voice Nick Contarino, Candidate for Lilley, Citizens Electoral Alesio Mulipola, Organiser, AMWU Victorian Branch - Anne Sturgiss, Grazier, Tarago, NSW Council of Australia, Newstead, Qld Cr. Christopher Simpson, Kyogle Councillor, Kyogle, NSW Wittenoom, WA Party, Morayfield, Qld Metals & Engineering, Carlton, Vic. Peter Nagy, Director/Consultant, My Technology, Ashfield, NSW Wayne Grunert, Candidate for Moreton, Citizens Electoral Cr. Ray Houston, Lismore City Councillor, Goonellabah, NSW Cr. Christopher Pepper, Dep. Shire President, Shire of Margaret Bell, Vice President, Australian Voice, Jensen, Qld Jason Murphy, Delegate, MUA, Wagait Beach, NT Noel Stratford, Dairy Industry Field officer (Retired), Council of Australia, Sunnybank, Qld Cr. Peter Harle JP, Liverpool City Councillor, Hinchin- Beverley, Beverley, WA Rick Boskma, Board Member and Membership Officer, William Ingrey, Delegate Assistant, Racecourse Mill Qld, Mount Gambier, SA , Candidate for Petrie, Citizens Electoral brook, NSW Cr. Peter Gogol, Shire of Beverley Councillor, Beverley, WA Australian Voice, Bowen Hills, Qld Geoffrey Cornell AMWU, Mackay, Qld Tony Barry, Actor/Community Activist, Billinudgel, NSW Council of Australia, Clontarf, Qld Cr. Rodney McDonnell, Lockhart Shire Councillor, Cr. Lily Chen, City of Perth Councillor, Perth, WA Steven Wood, National Secretary, Australian Indepen- Peter Ong, Delegate, Electrical Trades Union, Murrumba Carolyn Wilkinson, Author, Howard Springs, NT , Candidate for Oxley, Democratic Labour Party Urana, NSW Cr. Allan Hill OAM JP, City of Rockingham Councillor, dents, North Ipswich, Qld Frank Karg Downs, Qld Steven Hunter, Illustrator/Cartoonist, Buderim, Qld (DLP), Forest Lake, Qld Cr. Ray Butchard, Muswellbrook Shire Councillor, Rockingham, WA Ian Dean, Secretary, Australian Reform Party, Man- Mark Percy, Trainer/Delegate, Electrical Trades Union Andrew Chalkley, Author, Happy P/L (Bus Company), , Senate Candidate for Qld, Democratic Muswellbrook, NSW Cr. Joy Stewart, City of Rockingham Councillor, Rockingham, durang, Vic. Sheila Vincent (Qld), Red Hill, Qld North Perth, WA Labour Party (DLP), Toowoomba, Qld Cr. Maxine Booby, Narrabri Shire Councillor, Wee Waa, NSW WA Craig Isherwood, National Secretary and Senate Mick Steele, Senior Delegate, Electrical Trades Union Dr. Bernardine Atkinson, 21st Century Environmental Candidate for Vic., Citizens Electoral Council of Australia, Andrew
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