Category Archives: Abjorensen, Norman

Chifley versus the banks

Chifley versus the banks

Nationalisation
The big banks won the last great war against government interference, 70 years ago.

Norman Abjorensen

Originally published in The Canberra Times 6 June 2017

The predictable howls of outrage from the big banks about the $6.2 billion levy imposed on them in the federal budget are unlikely to arouse any sympathy from the electorate, nor will the move do the government any foreseeable harm. But resistance will continue regardless – and the banks have a long history of winning. Continue reading