The Citizens Party is the only Australian political party that has a plan to bust up the Big Four banking monopoly.
It starts with demanding justice for the victims of white-collar crime. A perfect example is the Sterling First scam. Over 140 elderly victims were robbed of their life savings and now face eviction from their homes because the regulatory agency ASIC failed to do its job.
Because of a Senate inquiry (which we helped to bring about), the question of compensating these victims is now squarely on the table. The Morrison government is resisting calls to compensate the Sterling First victims because they would have to admit it was the government's fault. That, in turn, would open the door to the other 200,000 Australian victims of dodgy "investment" schemes who have lost more than $40 billion since 2008.
Those 200,000 victims deserve justice, too.
The corrupting influence of the Big Four banks is the key. They use their money and power to install and keep politicians. The Big Four agenda is to maintain Australia as a "paradise for white-collar crime".
The Senate inquiry is a historic opportunity. It is urgent that we take advantage of it to get honest regulations and real regulators.
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