The latest quarterly KPMG survey of the banking and finance sector shows collective profits for the 20 registered banks hit a record last year, rising 11 percent to $5.77 billion from $5.19bn in 2017.
The main banks also shed more than 200 staff, had 44 fewer branches, and slightly fewer money machines.
So they have no sense of social responsibility what- so -ever.They are entirely driven by profits for their shareholders.
I’ve just shared (in the post below this one ) the first of a series of very good short documentaries interviewing women working for minimum wage. Please check it out.
Do you think there might be something unfair about the way we are still running our economy?
Do you think that Labour is living up to its name ? Iis it really standing up for working people, or allowing the greedy to plunder our economy by still permitting our deregulated banking and finance industry to pretty much do what it wants?
I believe that if you work all week you ought to be able to make ends meet for you and your family without getting into debt.
Frankly need more than talk of kindness. We need a radically progressive approach to our economy that really DOES tackle the huge gap between the haves and the have nots.
What say you?
Bryan Bruce is one of NZs most respected documentary makers and public intellectuals who has tirelessly exposed NZs neoliberal economic settings as the main cause for social issues.