18.2 C
Byron Shire
May 29, 2022

Big banks get bigger

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Comment: Bridging the flooded divide

In the sodden floodplains the divide among those affected has never been clearer – those who were insured, and those who weren’t, renters and owners, Lismore LGA and everywhere else.

So the mighty banks may sack a thousand workers next year, as will Qantas, because their profits may be a little less than five billion dollars.

This move is simply greed engineered because they can pay poor, disadvantaged Asian workers a fraction of an Australian’s wage.

This action is not only morally corrupt, but also very shortsighted as it is Australian depositors and fliers who help them make these obscene profits. I also find it strange that the directors of most of these institutions come from places such as Ireland, South Africa, America, and Europe. None of them are Australians with seemingly any sense of long-range concern for Australia or our children.

And while we are on the subject of greed, let’s add up the amount of wages the entire board of directors of these institutions, including the recently privatised electricity companies, receive in total. I am guessing that it amounts to hundred of millions of dollars that could be paying thousands of real workers.

It is also shocking to take note of just how many ex-premiers and politicians are on these boards of directors, raking in the millions.

Our system is presently based on greed and huge profits and will eventually lead to collapse, as is happening in Greece and Europe, unless we act now. A really good start would be to declare the opposite of our minimum wage law and make a maximum wage. Let’s be really generous and make it two million dollars per annum, not 50 or 100 million as many of these directors are receiving now, further weakening our economy and creating hardship for our people.


Darrell McDowall, Ewingsdale 

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