Senate committee releases Separation of Banks inquiry report!
The CEC will issue a full analysis next week; in the meantime, here's what you should know:
While the outcome was rigged, it's nevertheless a great achievement by the CEC and grass-roots supporters of Glass-Steagall, who set the agenda and forced the government to address this issue;
Senator for bankers Jane Hume, the chair, suppressed the submissions, only accepting 54 out of over 900; she lied about bail-in; and recommended against the separation bill;
The ALP senators' response is very weak - they only commit to implementing the recommendations of the royal commission (the ones that the banks celebrated - what a joke!);
The Green's dissenting report is truly excellent - it's a clear analysis of the financial problems facing Australia and an authoritative endorsement of bank separation that is now on the parliamentary record.