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The Drum’s editor, Ian Verrender, has produced a great article slamming the banks’ vocal opposition to stricter capital rules and debunking the claim that Australia’s banked were not bailed-out during the GFC:
Within days [of Lehman Brothers’ collapse], the government shored up offshore Australian bank debt with a taxpayer guarantee…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.