Australian banks

Gottiboff: Nationalise the banks to free credit

David Llewellyn-Smith
Wednesday, 22 November 2017
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From Gottiboff today:

If former Prime Minister Ben Chifley were alive today his heroes would be Treasurer Scott Morrison and APRA Chairman Wayne Byres.

Given the banking scandals, quasi-nationalisation is a highly popular stance but I believe that at this particular time of our history it is extremely dangerous.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.