Citizens Electoral Council of Australia

The Homeowners and Bank Protection Bill of 2008

Force Parliament to enact HBPB now!
  • Download and print the petition calling for the HBPB and fax it to your Federal MP. Click here for their contact details. If you can speak to your MP personally, demand that they meet with the LaRouche Youth Movement who will be in Canberra at the next parliamentary sitting in late February.
  • Please fax the signed petition to the following leaders also:

    Treasurer Wayne Swan
    Phone: (07) 3266 8244
    Fax: (07) 3266 4263

    Shadow Treasurer Joe Hockey
    Phone: (02) 9929 9822
    Fax: (02) 9929 9833

    Minister for Housing Tanya Plibersek
    Phone: (02) 9241 3222
    Fax: (02) 9252 3211

  • Download and print our flyer which shows the utter bankruptcy of the Australian banking system, and why without passage of the HBPB our nation will soon follow the entire world into a new Dark Age. Distribute, letterbox, or put in shop windows/on notice boards.

  • If you are a councillor, raise the HBPB for discussion at your next council meeting, and organise for a resolution calling upon Federal Parliament to enact this legislation.

  • If you belong to a union, contact your union rep or office and tell them to act on the HBPB, by taking it up with federal parliamentarians.

  • Use the above text as the basis for a letter to the editor, or call talk back radio to raise these ideas.

  • Circulate these marching orders to all your friends and contacts, so they too can get involved.

Click on a state to see an enlarged map showing which councils have supported the
Homeowners and Bank Protection Bill 2008

NSW     NT     QLD     SA     TAS     VIC     WA

Media Release 26 March 2009: Homeowners and Bank Protection Bill campaign geared up to stop bankruptcy Tsunami

LaRouchePAC Issues Updated Version of Homeowners Bank Protection Act

Full list of council signers of the Homeowners and Bank Protection Bill 2008 Petition

An insider: “How the councils are being looted”

Sign the Australian Homeowners and Bank Protection Bill 2008 Petition

Read the February 2008 issue of The New Citizen, chronicaling the mobilisation for immediate implimentation of the Homeowners and Bank Protection Bill 2008

Press Release: Mobilise to implement LaRouche's Homeowners and Bank Protection Bill

Marching orders: Mobilise your local council to endorse the HBPA!

Download the HBPB Petition for individual endorsement (A4) (PDF)

Download the HBPB Resolution for Local Councils (A4) (PDF)

Download the 4 page HBPB flyer for printing (A4) (PDF)

Background to the Financial Crash

Historical precedent for the HBPB

HBPB Update Newsletter Archive

Resolution Calling for the Australian Federal Parliament to enact the:

Homeowners and Bank Protection Bill of 2008

Whereas, the onrushing financial crisis engulfing home mortgages, debt instruments of all types, and the banking systems of the world, including those of the United States, Europe, Asia and Australia, threatens to set off an economic depression worse than the 1930s; and

Whereas, the mortgage crisis that has already hit Australia, threatens to become even worse, per capita, than that of the United States, where millions of American citizens are threatened with foreclosure and loss of their homes over the upcoming months, according to studies released by RealtyTrac and Moody’s; and

Whereas, Australia’s household debt to annual income ratio of 175 per cent is the highest in the world, has risen three times faster than that of the United States, and the current rate of 800 home foreclosures nationally per week will explode as the global banking crisis escalates, with already 70,000 Australian mortgage holders in crisis, and a further 1.8 million households officially classed as “stressed”;

Whereas, this financial crisis now threatens the integrity of Australian retail banks, Credit Unions and Building Societies;

Whereas, in similar crises in the past, both Australian and U.S. authorities acted to defend the Common Good, as did U.S. President Franklin Delano Roosevelt in the 1930s, by reorganising failing American banks under Federal protection and by passing legislation to stop home and farm foreclosures; and

Whereas, in the emergency caused by World War I, the Australian Commonwealth Government passed the War Precautions Act 1916 and its Commonwealth Moratorium Regulations to stop foreclosures until 1920, and every state in Australia enacted legislation during the Depression to stop home and farm foreclosures, including Queensland’s Home Purchasers Protection Act; Victoria’s Unemployed Occupiers and Farmers Act, and Financial Emergency Act 1932; and, New South Wales’ Moratorium Act of 19th December 1930, which, as amended, ultimately stopped all foreclosures until 1937, while the Commonwealth Government passed the Farmers’ Relief Act, which provided £12,000,000 to the states for the relief of farmers.

Be it Resolved, that the [Name of Council] hereby endorses the Homeowners and Bank Protection Bill of 2008, as initiated by economist Lyndon H. LaRouche, Jr. upon the following principles. As in the U.S., where only the Federal Congress has the capability to deal with this crisis, so, in Australia, only our Federal Parliament can enact the emergency legislation to keep people in their homes and avert social chaos.

This bill must include the following provisions:

1. Parliament must establish a Federal agency to place Australian licensed retail Banks, Credit Unions and Building Societies under protection, freezing all existing home and family farm mortgages for a period of however many months or years are required to adjust the values to fair prices, and restructure existing mortgages at appropriate interest rates. Further, this action would also write off all of the speculative debt obligations of mortgage-backed securities, derivatives, and other forms of Ponzi Schemes that have brought the banking system to the point of bankruptcy.
2. During the transitional period, all foreclosures shall be frozen, allowing Australian families to retain their homes and farms. Monthly payments, the equivalent of rental payments, shall be made to designated banks, which can use the funds as collateral for normal lending practices, thus recapitalising the banking systems. These affordable monthly payments will be factored into new mortgages, reflecting the deflating of the housing bubble, and the establishment of appropriate property valuations, and reduced fixed mortgage interest rates. This shakeout will take several years to achieve. In the interim period no homeowner or family farmer shall be evicted from his or her property, and the Australian licensed retail Banks, Credit Unions and Building Societies shall be protected, so they can resume their traditional functions, serving local communities, and facilitating credit for investment in productive industries, agriculture, infrastructure, etc.
3. State premiers shall assume the administrative responsibilities for implementing the program, including the “rental” assessments to designated banks, with the Federal government providing the necessary credits and guarantees to assure the successful transition.

We, the undersigned, demand that our Federal Parliament enact such legislation immediately.

USA: Lyndon LaRouche's original HBPA legislation.


(27 April, 09) U.S. Foreclosures Surge, More Demand LaRouche's HBPA Read more...

(21 Feb, 09) LaRouche's Homeowner and Bank Protection Act Mobilizes More Support Read more...

(13 Feb, 09) LaRouche's HBPA Introduced in States Across the U.S. Read more...

States in Which the Resolution Has Been Drafted Alabama (Rep. Jackson)
Arkansas (State Legislature)
Kansas (State Legislature)
Rhode Island (State Legislature)
Tenneesee (Rep. Towns, Jr.)

States in Which the Resolution Has Been Introduced (or Filed):
Florida (State Legislature)
Illinois (State Legislature)
Maryland (General Assembly)
Massachusetts (Worcester)
Michigan (State Legislature)
Missouri (State Legislature)
New Hampshire (State Legislature)
Pennsylvania (State Legislature)
National Black Caucus of State Legislators (Legislative Conference)
New York (Buffalo City Council)
Ohio (Lorain City Council)
Oklahoma (State Legislature)
Pennsylvania (State Legislature)
Rhode Island (State Legislature)
Vermont (State Legislature)

National Black Caucus of State Legislators (Legislative Conference)

States in Which the Resolution Has Been Passed:
California (Los Angeles County Democratic Central Committee)
California (Pomona City Council)
Illinois (Bloomingdale Township Democratic Party Organization)
Indiana (Gary City Council)
Indiana (Indianapolis)
Indiana (East Chicago)
Kentucky (City Council of Shively)
Maryland (District Heights City Council)
Massachusetts (Democratic Party State Convention)
Massachusetts (Lawrence City Council)
Michigan (Pontiac City Council)
Michigan (Flint)
Mississippi (Jackson City Council)
Missouri (St. Louis Board of Aldermen)
New Jersey (East Orange)
New Jersey (Irvington)
New Jersey (Newark)
Ohio (East Cleveland City Council)
Ohio (Maple Heights City council)
Pennsylvania (New Castle City Council)
Pennsylvania (Johnstown and Ellwood City)
Pennsylvania (Erie and Monessen)
Pennsylvania (Borough of Canonsburg)
Pennsylvania (Scranton)
[Note: Technically not passed] Pennsylvania (Pittsburgh)
Pennsylvania (Sunbury, West Mifflin and Berwick)
Pennsylvania (Philadelphia)
Pennsylvania (Wilkes-Barre)
Pennsylnania (Harrisburg City Council)
Pennsylvania (Jim Thorpe)
Pennsylvania (Farrell)
Pennsylvania (Bradford)
Pennsylvania (Yeadon)
Pennsylvania (Norristown, Conshohocken and Nesquehoning)
Pennsylvania (Titusville)
Pennsylvania (Borough of Tyrone, Arnold, Clairton, Borough of Hamburg)
Pennsylvania (Borough of Ambridge)
Pennsylvania (Carbondale, Coatesville)
Pennsylvania (Shamokin, Connellsville, Wellsboro)
Pennsylvania (Sharon, Borough of Ridgeway)
Rhode Island (Providence)
Texas (San Benito City Commission)
Texas (Cameron County Commission)
Texas (Brownsville)
Texas (Port Isabel)
Texas (Weslaco)

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