It's Time for a New people's Bank Rally

Allowing private banks to monopolise the financial sector makes us all hostages to the privately owned banks. Institutions that are too important to fail should not be owned by the private sector. Why should the banking sector be bailed out by the public every time they run into trouble because they are too big and too important to fail. The big four banks continued to make record profits during the global financial crisis because they were backed by government guarantees and refused to lend money to business at reasonable interest rates because of the higher risks associated with business.

The sooner a new people’s bank is established, the sooner will the government of the day have a cudgel to deal with private banks who are only interested in maximising their profits at the expense of the communities they service. Until governments or the community take control of the banking sector we will all continue to be hostages of the greed merchants.

We demand the ownership of the new pople's bank be enshrine din the Australian Constitution so next time the government of the day tries to sell off the peoples bank, it will have to ask the people in a referendum if they want to sell their bank.

Hear speakers, join in and use the open microphone, sign the petition