Never underestimate the might of a whistleblower especially in today’s age but it looks like that is exactly what Prime Minister Malcolm Turnbull and the Liberals have done in regards to their refusal to have a Banking Royal Commission. Jeff Morris who blew the whistle on corruption at the Commonwealth Bank’s financial planning arm has called out Malcolm Turnbull’s ASIC solution for the joke that it is.
Most people would not know who Jeff Morris is but if you watch the 2 videos below he is certainly driving his agenda for a Royal Commission and getting a lot of coverage and traction with supporters. And the Royal Commission is hotting up to be a major election issue if not the biggest issue.
If the federal election, which is due on the 2nd of July 2016, is as close as the polls expect then Jeff Morris and the push for a Royal Commission could be the difference of deciding who wins the election. It’s estimated that there are tens of thousands if not hundreds of thousands of victims of fraud by financial institutions and that’s a lot of voters come election time.
There are many others who have exposed corruption in the finance industry which has helped calls for a Royal Commission but Jeff Morris is one of the key whistleblowers. Mr Morris was an insider working in financial planning at the Commonwealth Bank when he blew the whistle and the knowledge he has is invaluable for revealing how the banks really operate in a corrupt and criminal manner.
The Australian Securities & Investments Commission – ASIC
The organisation that is meant to police the financial institutions which includes the banks is the Australian Securities & Investments Commission. Their job is meant to make sure that fraud and theft does not happen at the financial institutions. As we all know fraud at the financial institutions is widespread and ASIC has failed horrendously which Jeff Morris points out numerous times in the videos. So the Liberals $120 million increase in the budget for ASIC will achieve very little as their failures are the key problem.
The two videos are well worth watching especially given the first didn’t get much media airtime. The first video was filmed at the Melbourne Press Club 2 weeks ago and Jeff Morris outlines his experience blowing the whistle on corruption at the Commonwealth Bank. While it might not have received a huge audience the next video did as it is a story on the ABC’s 7.30 Report and Jeff Morris’s comments are very telling.
Mr Morris’ educated opinion carries a lot more weight than the politicians who are also in the video and that is a major problem for Malcom Turnbull and the Liberals. The Liberals can attack the Labor Party all they want but they can’t attack whistleblowers like Jeff Morris or the banks victims otherwise they lose total credibility. And there are plenty of victims prepared to tell their stories and give their opinions to the media.
Jeff Morris at the Melbourne Press Club 14/4/16
While it is highly unlikely to have been Jeff Morris’s goal he is now taking on the Liberal Party whether he likes it or not in regards to the Royal Commission. But he does have a lot of support from all sides of politics including Liberal voters.
A lot of people try and run whistleblowers down but at the beginning of the first video Fairfax journalist Adele Ferguson talks about the impact of whistleblowers in recent years and it does seem to be growing at a rapid pace.
Jeff Morris on the ABC’s 7.30 Report – 20/4/16
The up and coming federal election could be the whistleblowers election in that issues that have come to the public’s attention via whistleblowers ultimately decides the election. It might help explain why there are about 8 or 10 Liberals (probably all in marginal seats) wanting the Banking Royal Commission because they know there is a good chance they will lose their seats if they do not promise to have one like the Labor Party.
Malcolm Turnbull and the Liberals should have a good look at the recent polls that are putting the Labor Party ahead or equal to the coalition and then guarantee a Royal Commission into Banks as an election promise the same as Labor. The Australian public deserve a Royal Commission no matter who wins the election.
Jeff Morris and the call for a Royal Commission into Banks should be supported by all Australians as we all have a financial interest with our superannuation, bank accounts, credit cards and insurance etc. And it is well known that the banks are up to their necks in fraud and theft from customers.
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I have followed the entirety of this case from go to whoa, both ASIC and the executive board of the CBA prominently Chairman David Turner, the gentleman it was lied to the audience attending that 2013 AGM.
Now some 3 years later David Turner is still chairman, no fines issued no prison time for this massive scale cover-up by both the Bank, ASIC then by Senator Mathias Cormann already having made the decision to ignore the excellent work by the Senate committee in their Inquiry that resulted in around 57 or more recommendations, the last recommendation calling for a deep Royal Commission that most certainly was called for.
Since that time the CBA has defaulted in a number of other situations they had control over.
Not only should heads rolling but a proper legal investigation into the well established liaisons between both the CBA and ASIC being such a breach of all regulatory authorities, including the Prudential Regulator then that this outrageous series of ‘white collar crime’ must see some jail time spent by those at the very peak of this no longer trustworthy Bank.
One must note the energy Malcolm Turner is expending trying to defend the Commonwealth Bank. This itself is an affront to people across the full extent of Australia whereby Australia’s Prime Minister is in fact defending the indefensible roguery in the non bona fide conducts by the top of town smarty’s who believe themselves untouchable.
Incidentally Australia owes high commendation for Jeff Morris for his stoic pursuit into this matter to bring this into full public exposure.
This is exactly why i have never liked Malcolm Turnbull. He used to work for Goldman Sachs, one of the most corrupt banking institutions in the world. Malcolm Turnbull is a snake.
Not that Shorten is a shining light. He is no better.
Spot on Glenn, Snakes left, right and centre in Politics. I thought Monsanto was the disgusting Corporation on the Planet, but Goldman Sachs creams them! At the end of the day one needs to ask who allows these Corporations to get away with their behaviour – the answer POLITICIANS. We need to get rid of career politicians, that would be a good start.
Ironically CBA’s COMSEC has just adopted Goldman Sachs as a research provider.
I think it will be a close election probably a hung parliament, Malcolm Turnbull is to tied up with big finances and the other guy Shorten is hated by the electorate the polls prove that. As the electorate have very short memories they will probably favour Labor as the better of the two evils. Another six tears of Labor dysfunctional government will do us all good. Let the unions rule they are the most competent crooks.This will be an election of protest and the Greens will prosper.Gillian Trigg for PM lets go down the tubes in style.Allan Usherwood Myalup WA
There is an old saying in politics,never establish a Royal Commission unless you are sure of the outcome.This is achieved by setting the terms of reference to steer the finds to give a favourable result.
The pressure must be applied before and during the formulation process.Once it is set and the game is rigged then the findings are predictable.
Informing your local Labor member in the up and coming election to keep a high profile on the subject and contacting the Liberal dissenters within the party to maintain their stance is a first step in the battle.
Failing that the other alternative is in the Senate.The independent senators maybe able to force amendments which can attain the goals we must have,chose your vote with this in mind.
Further pressure may be applied with an online petition through such sites as Change.org etc or social media.I would attempt to initiate one myself but I’m not very computer literate and would almost certainly make a hash of it,because I’m a digital dunce.
I heard,anecdotally,that Joe Hockey’s mother in law lost all her saving in the Comm bank scandal and he did nothing.If this is true then as much pressure must be brought to bear as possible.We all must bear in mind Turnbull was a bankster himself with Golden Sacks and along with other fianacial accomplices they mix socially with each other at dinner parties etc.
Also be aware that the largest,official,Liberal party donors are the four big banks.Remember the old saying “never stand between a politician and a bucket of money”unless you want to spend a few months in the expensive care ward of your local hospital.
Gotta go now I need more Gin!
I think about the money that is wasted in government and think about all the crooks in the Labor who have gotten away with fraud, theft, corruption,lies and contempt. I have not yet seen any form of punishment handed out to these grubs.An RC into the banks will be just the same,with the exception the banks will not treat inquisitors with contempt as did the unions, ( Oliver should have been locked up for violating the constitution which supposed to protect the Queens servants from contempt)but with Turnbull on their side they have no fear of retribution, they will just carry on walking all the way to the bank squeaky clean and free to carry on with their crooked culture.This country as it has evolved stinks from the top to the bottom and the losers are the very backbone of a nation,it’s people. This decision by the Coalition to decline an RC I think will cost them the election.
Are the people of Australia able to get a Royal Commission underway ? It seems that no political party in this country will serve its people. They only serve the 1. Power of unions in Labour.. 2. Serve the almighty dollar in Liberal. There must be something we can do. (Short of Civil War)
No rodjac2014, the political “opposites” (they only pretend to be for the audience) serve something more powerful, The Banks.
Through the Bank’s mate, called the Reserve Bank, by exercising monetary (Ie fiscal) policy, they drive ( Ie control) every dollar that exists.
MSM will swear black and blue otherwise, & why shouldn’t they; I suspect their CEOs are indebted to the system.
No politician dares to have a Royal Commission into the Banks, only an elected government acting in unison willing to expose facts…. certainly not a representative government (ie ours) with its historically entrenched nepotism and legally protected cabal masquerading as choice!
As a lifelong conservative voter I would welcome a RC into the banks….for I fear a voter backlash if the Coalition does not call one.
Labor’s cronies realise the power of their statement that they will institute a RC into the banks if elected. My straw poll in recent times among my fellow Libs and fence-sitters indicate they want a RC…..about 70% of them!
Malcolm may have to eat humble pie and call one despite his statements of handing ASIC back $120m to give them more power and resources. People have little faith in ASIC to “bring home the bacon”.
I also remember only too well stories of many people who have lost everything based on supposed sound bank financial advice …there are just too many greedy crooks in the banking industry who couldn’t give a stuff! Two friends of mine in Queensland are testament to these horrors going back a few years. They now live frugal lives on old age pensions, have to rent and have to make every dollar count. They did not chase the high interest rates, they merely sought what they thought was wise counsel from financial planners and bankers.
Dreadful – this country is becoming so corrupt on every level it is frightening
Not ‘becoming corrupt’…… has been for a long long time, a very long time. Corruption is addictive…… it seems that they can never have enough.
It is going to take many good Australians to rid/control/reduce/eliminate/manage this poison.
And the change must lead from the TOP. Our business, academic, community and political leaders need to put their VALUES ahead of their interests!