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The 2008 financial crises and meltdown occurred because large banks were speculating in fraudulent risky loans that failed. When the meltdown occurred, banks turned to the federal government, who immediately bought into the idea that banks were too large to fail, and taxpayers subsidized banks to the tune of trillions of dollars. No one really knows how much the bailout cost, but here is partial list of banks you generously helped out:
Citigroup - $2.513 trillion
In this article of the Daily Telegraph Saturday 6th February 2016, the front page present us with a reason why mergers of NSW Councils could become a massive RORT... Is this a double-cross information wedging preparation in favour of our little emperor Bairdus who of course could magnanimously intervene and protect the former councils' assets?
WE SHALL SEE....
Yesterday afternoon news broke of further job cuts to Australia’s premier scientific institution, the CSIRO. The area most affected? Climate science.
A bitter pill to swallow:
One of the most startling cases of a government using the fig leaf of “national security” to protect its own interests is happening right before our eyes - and it should have Australians up in arms.
James Packer's Crown Resorts has been asked to reduce the size of the podium for its proposed casino tower and move the podium back from the waterfront, to address concerns the lower floors of the casino will dominate the public space and constrict the harbour walkway.
The suggested changes from the Department of Planning NSW are contained in a draft recommendation that was sent to Lendlease and Crown for comment in November last year. The recommendation by the department is for approval of Modification 8 which, among other changes, relocates the hotel from its original site over the water to the land.