Coffs Coast Business

Coffs Coast Business Politics

Next financial crisis storm clouds gathering – IMF

Deputy head David Lipton says global banking system is not prepared for another downturn Richard Partington Economics correspondent @RJPartington By Richard Partington Economics Correespondent – The Guardian Crisis prevention is incomplete more than a decade on from the financial crisis, the IMF’s deputy head, David Lipton, said. Photograph: Eddie Mulholland/Rex […]

Coffs Coast Business Opinion/Comment

Our financial system only works for the 1%. It will take another crash to fix it

Financialised capitalism has failed, and cannot be fixed by more and better regulation By John Quiggin  ‘A system of financialised capitalism like the one that prevails at present will inevitably be dominated by the self-enrichment of financiers.’ The royal commission into banks in Australla has uncovered fraud and misconduct on […]

Coffs Coast Business Politics

Australia’s biggest ever financial scam unfolded in plain sight

The biggest financial swindle in Australian history was not masterminded by a smooth-talking shyster in silk tie and fancy loafers. It didn’t involve complex money shifting to the Bahamas, the establishment of sham companies or falsified documents. By Jessica Irvine. Illustration: John Shakespeare The biggest financial scam ever perpetrated against […]