My attempt to analyse and provide informative, thoughtful, balanced news and views, often from a left of centre perspective. READERS ARE URGED TO COMMENT AND FOLLOW BY EMAIL OR OTHER LINKS. SEE SIDEBAR.
YOUR SUPPORT IS VITAL.
Sorry to disappoint Gordon Campbell but to label international firms `Aussie banks' is just jingoistic drivel. A bank registered in one country does not make it a national entity when its shareholders come from anywhere on the globe, including pension funds in Canada and elsewhere. To label money sent from New Zealand subsidiaries of a bank registered in Australia as somehow extracted from NZ and sent to any one country is also nonsense. The Australian head office is no more than a transit stop, with dividends paid to any shareholder anywhere in the world, and interest repaid to other banks and financial institutions who have lent the Australian-based bank funds which it on-lent and collected repayments on. All banks everywhere conform to one law, that is to maximize profits on an international scale of reckoning: indebtedness to international lenders is now a common feature of banks everywhere.Names mean almost nothing in a globalised world, as a look at sporting teams should show Gordon Campbell: witness the Southern African-born people playing cricket for England. Qatar won the Asian Football competition recently with quite a few non-Qatari born players. And so on, and on, and on. Jingoism is a sure sign of emotional and intellectual immaturity.
All polite, reasoned, original comments welcomed. Please use your real name or a pseudonym by clicking on the down arrow next to Comment and then select Name/URL. You do not need to fill in URL. . Anonymous comments make discussion difficult..