G20 Australia 2014 - Seize This Golden Opportunity For Reform

G20 Australia 2014 - Will World Leaders Take Real Action

The 2014 G20 Final Meeting is being held in Queensland this coming weekend - 15-16 November - Help us to get this message out. People want a fair deal regarding the way banks and the finance system function. If the G20 really wants to facilitate the creation of good quality jobs and bring hope to our young people then corruption and predatory practices running rampant through the finance system must be stopped. We must stop big government colluding with big business in a way that transfers the wealth of productive people and businesses to the unproductive manipulators of money. Money left in the hands of workers and real businesses leads to investment, innovation, jobs and a better quality of life for all of us.

We ask our leaders to reform the corrupt system that caused the Global Financial Crisis.

A good start would be to put in place the following reforms to make the system honest and stable -

1. Simple language, transparent and legally enforceable issues:

  a) Contracts. In Australia citizens enjoy some degree of legislated protections from unfair contract terms. It is essential that these are enhanced and extended to small and medium businesses as well as home loan clients. Banks use unfair contract terms to abuse their power over borrowers.

  b) Justification for the granting of loans. Loan Application Forms must be given to the client.

  c) Information to shareholders for voting on compensation packages for bank CEOs, Directors and Loan Officers. However - trailing commissions and fees should be outlawed.

  d) Full disclosure to clients of commissions and fees as well as mortgage ownership.

2. Investigation of Federal Reserve System; Central Banks; the Creation of Credit. Look for genuine alternatives that work toward the betterment of the situation of the world’s population.

3. Full restitution and compensation payable by banks to the victims of banking malpractice.

4. Legislation introduced enabling asset seizures and jail terms for loan officers, bank directors and CEOs engaging in criminal activities including corruption, unconscionable conduct and predatory lending. Strict liability laws should apply - i.e. no need to prove intention for directors to be pursued and jailed if appropriate.

5. Effective Whistleblower protection legislation. Possible immunity for low level financial crime perpetrators who help bring convictions against upper echelon criminal bankers.

6. Banks to provide a simple language, transparent and legally enforceable easy access facility to enable customers to download their personal and business data – including Biller Lists; Payee Lists; Bill Payments; Fund Transfers; and related scheduled auto payments. This will facilitate the transfer of the information by the client from one bank to another. The aim being to make it easy to transfer necessary client bank website data to another bank – and to cancel payments from current bank account and have them seamlessly continue from the new bank account.
__________________________________________________

If the G20 leaders do not have the guts and decency to put in place the above simple reforms we have no chance that they will even consider looking at how big banks abuse their powers to generate billions of dollars in profits from crime. Here we refer to their involvement in money laundering, the illicit drug trade, the arms trade, foreign currency trading manipulation and collusion on benchmark interest rates such as the LIBOR scandal. These issues appear too difficult to handle for most politicians. Maybe we need a new style of leadership.

The billions of dollars being transferred to the finance sector via predatory, criminal and corrupt means affects the lifestyle of every one of us. This is why we find it so hard to get the right balance between work and family. This is why we find it hard to make ends meet. This is why a bigger and bigger proportion of your income must be spent on housing and paying off debts. This is why we are experiencing more and more stress and mental illness. This is why so many of our children will never be able to enjoy a standard of living equal to or better than their parents.

Let's make it clear: the money that you could be - and should be - using to look after your family is being stolen; the money the government could be using to provide important infrastructure and services is being stolen. The government is letting this happen.

Governments must make it clear by actions - not just words - that they are working in our interests. If they fail we really will need new leaders working in governments of the people - for the people.
__________________________________________________

TAKE ACTION: Bank Reform Now Friends and Supporters - we want the reform proposals above to be placed onto the G20 agenda - it is not too late. If we don't act we will see a golden opportunity for real reform wasted. The corporate powers do not want real change.

Our leaders will have failed us if on Sunday night a G20 communique filled with motherhood statements is released. We don't want empty promises - we don't want long term aspirations to be worked toward - we don't want fiddling around the edges. We want determination to achieve what is really best for the people of the world. We want genuine proposal with step by step actions mapped out and implemented promptly to achieve results. We want real reform ...... now..!!

Contact these key Australian politicians today. Even a short email just asking them to put the Bank Reform Now proposal onto the G20 agenda would be helpful - all three of them are aware of the issues.

    PM Tony Abbott - https://www.pm.gov.au/contact-your-pm / Phone (02) 6277 7700

    Treasurer Joe Hockey - J.Hockey.MP@aph.gov.au / Phone (02) 9929 9822

    Finance Minister - Mathias Cormann - financeminister@finance.gov.au / Phone (08) 9325 4227
__________________________________________________

G20 Information / Resources re: Finance:

Policy Note - Building Financial Resilience: https://www.g20.org/sites/default/files/g20_resources/library/Resilience...

Financial Regulation: https://www.g20.org/g20_priorities/g20_2014_agenda/financial_regulation

Fighting Corruption: https://www.g20.org/g20_priorities/g20_2014_agenda/fighting_corruption

Reforming Global Institution: https://www.g20.org/g20_priorities/g20_2014_agenda/reforming_global_inst...

UPDATED 16.11.14 -

G20 Leaders' Communique: https://www.g20.org/sites/default/files/g20_resources/library/brisbane_g...

Brisbane Action Plan: https://www.g20.org/sites/default/files/g20_resources/library/brisbane_a...

2014 Financial Inclusion Action Plan: https://www.g20.org/sites/default/files/g20_resources/library/2014_g20_f...

Financial Stability Board - Adequacy of loss-absorbing capacity of global systemically important banks in resolution: https://www.g20.org/sites/default/files/g20_resources/library/adequacy_l...

Some Reminders To Show Why Action Is Needed

Real people really suffer when our institutions are corrupt, predatory and unaccountable -

Open Letter to G20 Leaders - Transparency International - Unmask The Corruption: http://tinyurl.com/G20-Letter

Big Names Dominate Frozen Funds Hit List: http://tinyurl.com/fund-hit-list

A Message For G20 Leaders Considering Banks Too Big To Fail: http://tinyurl.com/q3q3ru7

In The LIBOR Scandal - Where Were The Regulators: http://tinyurl.com/mcxcwcw

Bankers Left Reeling - Senator Warren Grills Regulators - http://preview.tinyurl.com/Warren-Gets-It