30 June

Before the paint had even dried on the last global financial crisis, the finance industry had already begun re-leveraging using the same instruments that caused the GFC. CDOs, and also CLOs now, worth over a trillion in the US alone. Only a few things will stop these bastards repeatedly destroying societies - long jail terms, tough regulation and punitive fines. Or re-nationalisation of the entire finance industry. Name one banker or finance industry person who attracted a single penalty out of the Royal Commission. Instead we get our undies in a twist over unions. How fucking dumb can we be people.