We have a responsibility as citizens of our nation to do the heavy lifting. Not the rubbish Hockey is talking about, but the heavy lifting of critical thought. We should nor just read the news but analyse it. Examine the use of language, the way the story is presented and what is covered and what is ignored. This excellent article by the quite brilliant Kaye Lee dose just that.
Hockey tried to sell this as crucial to our economy in giving the Reserve Bank a buffer zone to address future crises. What a load of hooey.
The RBA deputy governor, Philip Lowe, ‘said the level of the bank’s capital reserves had not been keeping him awake at night’. The board had wanted to rebuild the capital level over time but the government wanted to do it immediately.
In a speech at a Sydney investment conference in October, Reserve Bank governor Glenn Stevens backed up comments by the RBA deputy governor that the bank was happy to rebuild its capital…
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