Add your name to CEC statement Click here to sign the CEC's statement "Glass-Steagall for the Common Good". Your name and position will be included with the statement when it is submitted to the FSI.

Make your voice heard on
‘bail-in’ and Glass-Steagall

MARCHING ORDERS

The Interim Report of the Financial System Inquiry has opened a debate over solutions to the problem of too-big-to-fail (TBTF) banks, including bail-in and Glass-Steagall.

This provides a perfect opportunity for Australians who oppose the idea of bank accounts being seized to prop up TBTF banks, and support a strict Glass-Steagall separation of ordinary banking from speculation, to have their own say on the issue, by making a personal submission to the FSI by the 26 August deadline.

The media is starting to report the issues more and more, but nowhere near enough. Individual MPs have taken up their constituents’ concerns about bail-in with Joe Hockey’s office, but every time they get fobbed off with provable lies.

Therefore, the CEC has just launched a campaign to cut through the media fog and Hockey’s lies by getting as many individuals as possible to make a personal submission to the FSI.

The panel that comprises the FSI, led by former CBA and Future Fund boss David Murray and including top investment banker Carolyn Hewson, will have to read all of the submissions; the total number of submissions to the FSI in the first round was 280—the CEC has set the target of getting 500-1,000 or more submissions on bail-in and Glass-Steagall alone in this second round. There will also be public meetings held by the FSI in most capital cities at date and times still to be announced.

Also, the CEC has prepared a new statement, “Glass-Steagall for the Common Good”, which will be included in the CEC’s own submission, together with the names of political and community leaders who endorse it.

To help with writing your own submission read the CEC’s 17 July 2014 media release that comments on the Interim report of the FSI and also read some of the submissions that have already been made that may aid you composing your own. Here is a PDF of some examples of submissions that people have already lodged.

Make your own submission to the FSI today

Everyone is strongly encouraged to immediately make a personal submission to the FSI, stating your opposition to bail-in and support for Glass-Steagall. The submission can be as long or as short as you like—it does not matter if it is only one or two sentences. There are three ways to make a submission:

Please note: If you are not confident using the internet, please email or mail your submission.

In all cases please either email your submission to the CEC too, or let us know you have made one, so we can gauge the volume of submissions we are generating.
Our email is cec@cecaust.com.au

DEADLINE for submissions - 26 August 2014

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Troubleshooting (online FSI submission)

The following points address some of the issues which have been raised by people attempting to make an online submission:

1) Some people are put off by the security alert from their web browser that “this is connection is untrusted”. The user has to “tell the browser that this is a trusted site” by clicking on the button “Add Exception…”. See image below:

2) Not every user knows that fields with an asterisk are compulsory and must be filled in, therefore in the case of second last field the user must upload a file in either format: pdf, word or RTF. Users can simply paste their comment into WordPad program and save the file as RTF. See image below:

3) The last issue, is very simply the limitation on used characters in the comments field, that is 2000 characters.