Fighting Fake News with REAL, 27/9/20; Tax Shysters, Westpac, Deregulating irresponsible lending; VS, Victorian Socialists

 

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Tax shysters PayPal investigated by AUSTRAC for money-laundering, counter-terror financing

by Michael West | Sep 27, 2020 | Finance & Tax

Hard on the heels of its Westpac sting, Austrac is close to prosecuting Paypal for offences under the Anti-Money Laundering and Counter-Terrorism Financing laws. Michael West reports.
Immediately in the wake of the dramatic news, Westpac’s shares performed in line with the share market, which shows that although the settlement was large prima facie, it was also largely expected and, at a cost of roughly three months of cash profits for the bank, was not particularly onerous (also given the enormity of the breaches at 23 million in number and the seriousness of the breaches which included large corporate transactions and hundreds of cases of financing pedophiles).
On sharemarket trading the following day Westpac shares shot up sharply along with the other major banks when the government announced it was watering down lending criteria.
Immediately after what seemed almost coupled with the Westpac announcement it seemed Frydenberg announced the relaxing of the current irresponsible lending laws.(ODT)

 

The ‘Panama Papers’ exposed the greed of the…

By Paul Gregoire  The Panama Papers could have been a massive moment in

The Panama Papers could have been a massive moment in history. However, the culture of tax havens, loopholes and our richest paying zero tax continues unabated.

An Oxfam report released on January 20 revealed that last year 26 billionaires owned the same amount of wealth as the poorest 3.8 billion people around the globe. This was down from 43 individuals the year before. And this extreme wealth disparity is accelerating every year.

 

The Shovelhttps://www.theshovel.com.au/2020/09/26/morrisons-daughter-to-build-and-negatively-gear-second-cubby-house/

Scott Morrison’s 10-year old daughter today welcomed the federal government’s proposed relaxation of lending standards, saying she plans to use the equity in her first cubby house, built earlier this month, to build a second property. 

While she acknowledged her lack of a job and savings, Ms Morrison said she was thinking of her long-term financial future. “I’m unemployed, and have only a few dollars left from birthday and Christmas gifts. But with these new looser restrictions, the equity from my first cubby house and the $25,000 Homebuilder grant, I should be able to scrape together enough for a deposit to build another one. And with the tax benefits from two cubby houses being negatively geared, I’m hoping I can sell the properties before I turn 18, and then retire.” 

The Prime Minister’s youngest daughter also saw the broader economic effect of her plans, echoing her father’s fixation on tradespeople. “The looser lending rules will create more work for tradies, at a time when so many people are unemployed or underemployed due to the global pandemic. These changes will bolster the cubby house sector, create jobs and provide prosperity for people looking to invest in property”.

Federal Government fast-tracks grants to Foxtel

According to an ABC report, government funds were fast-tracked to Foxtel during the coronavirus pandemic.

Meet the Socialists Keeping Alive Working-Class Politics in Melbourne

09.26

• Andrew Charles

As Melbourne’s October council elections approach, the Victorian Socialists are stepping up their fight against neoliberalism — by fielding an unprecedented slate of 19 candidates, across five municipalities. 

 Take Stony Creek, a waterway in Melbourne’s working-class west. It’s still poisoned after a fire in an illegal chemical store in Tottenham. As Jorge Jorquera, Victorian Socialists candidate for Yarraville explained, “If this was happening in Toorak it would be a different story.”

However, as Liz Walsh notes,

We see elections as a way to connect a socialist message with working people. If we win, it’s going to be because we were upfront about our politics, and because people voted for socialist fighters. And if we don’t win, we’ve forged new connections and put local councils on notice.

Erik Locke

@Eriklocke33

We can do it Victoria! We're flattening the Herald Sun readership curve! Stay safe, don't buy it, read it or follow any of the journos. It is cunning, deadly but very visible.

 

FAKE NEWS

THE ARCHIBALD FOR THE BEST RACE PROPAGANDA

John McDonald is Australia's top art critic. But he really should protest at Australia's top art prize being hijacked by propagandists, and not encourage this debasement of art:  "In a year when Black Lives Matter protests are raging around the world, it was a safe bet the Archibald Prize would go to an Indigenous artist." It gets worse...

12m ago

No surprise Andrew Bolt wants Art to be reduced to decoration. Only exception if and when it glorifies and mythologizes the nations history or Christ as a White man.  How dare art awards be given to non patronized artists those not recognized by Bolt's hallowed secondary arena of galleries and the commercial art world. In this case the little known grandson of a famous Indigenous artist. It's bad enough he's indigenous but the subject matter is a reminder of Bolt's great racist folly. The attempted crucifixion of Adam Goodes. Bolt threw his shit and it hit a Teflon wall and it rebounded and covered him instead. No matter what Bolt did he couldn't find traction with his racist comments and attempts to have us turn on the Australian of the Year..

UH OH, TRUMP IS STARTING TO SOUND LIKE HE KNOWS HE'LL LOSE

Maybe Trump was just having an off day. Maybe he just misspoke. But his speech on Friday at a rally in Virginia sounded like he was already preparing excuses for defeat. Take these lines.

32m ago

Bolt seems to be preparing himself for the event  of Trump losing. If he  does he can then deny he was ever really a Trumpster. Bolt's always allowed himself a get out of jail card buried somewhere should he need it. However they are what they are pathetic attempts to escape. Sounds as if Bolt believes he has backed the wrong horse.

THIS VIRUS SCARE IS A RE-RUN OF THE CLIMATE ONE

The virus scare is just like the global warming one. Both are based on dodgy models and wild exaggerations. Both are hyped by scaremongering journalists quoting the most alarmist experts. Both are sold with a moral fervor, damning alternative opinions as evil. And both have politicians proposing ruinous responses that cause more harm than good.

1h ago

The virus scare is built on the same foundation as climate change. Yes, they are both universal problems affecting each and everyone of us be it differently depending on our global status . As for "shining a light on dodgy models" they have. Primarily on the  economic, political and social systems under which we variously live and have  operated under over the years. Climate Change more complex so more so the pandemic has brought into relief those social systems that have failed us with those that haven't.
 It patently obvious the US  the model of Capitalism our LNP currently wishes us to adopt has been the greatest failure. Whereas other less extreme Capitalist Socialist Democratic systems, less intent on privatizing everything, have fared better. The obvious difference is in regard to values of Human Rights and Common good and Public Services against extreme Individualism and a free market. Values geared to prioritizing a common good asan outcome have fared much better. It's those comparisons Bolt ignores.  His agenda supports one that's all the way with the USA and 'me' not 'we' as it's central value. One that is the very definition of Trump's world.

WHO CHOSE PRIVATE SECURITY?: THE MEMORY FAIL OF GRAHAM ASHTON

Former police chief Graham Ashton denies making the catastrophic decision to get private security guards - not his police - to guard Victoria's quarantine hotels. But what made him say on March 27 that the Premier's department made the call? Who did he speak to? Why does his phone not note such a call?  Why is the Premier pointing a finger at him?

1h ago

Why did 2 ranked Police Commissioners agree that they both thought the ADF and the Police were inappropriate to act as the hotel security guards? The look for one was their immediate reason. Imagine the image sent around the world and it's effect on the tourist industry. The second neither force was sufficiently trained for medical security and neither felt adequate training could be supplied immediately. So was this a case of passing the buck?
Jenny Mikakos was in charge of the DHHS a department crippled over time not by Dan Andrews but successive State and Federal Governments a system ready to fail period and not simply because of the Andrews Government. Private Security had become increasingly used over the years. For Christsake it had been guarding ADF and other public facilities for years but not as specialists. Profit not performance their bottom line.
They fucked Manus up. They run our prisons so what makes anyone surprised that they weren't going to fuck up the quarantine at hotels particularly on such short notice. NSW had learned from their experience with the Ruby Princess. Dan Andrews dealt with the first wave of Covid successfully. We were an example to the  country so their wasn't any reason to believe hotel quarrantine wouldn't have the same outcome. The system system however proved to be the problem but rather than amplifying that fact an individual scapegoat was needed.
Everyone and his dog were pointing fingers at each other except Dan Andrews and unfortunately like drop the hankey and in all probability was always going to be Mikakos left holding the hankey. Will it continue or improve probably continue because these things aren't turned around on a coin. What will be the outcome? Will Dan deal with the systemic issues? Will Morrison deal with the travesty of privatised Aged-Care? Dan should leave O'Brien yelling and screaming like a banshee in the background and let Andrew Bolt and the media wallow in their shit as well. After all 70% of Victorians are behind Dan they know he's got their backs.