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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