Federal Member for Kennedy, Bob Katter has seconded the Federal Opposition’s motion for the immediate establishment of a Royal Commission into banking.
This comes after Mr Katter tabled a notice of his intention to present a Bill titled Banking Commission of Inquiry Bill 2016 – calling for a Royal Commission into Financial Institutions, which is seconded by fellow crossbencher Mr Andrew Wilkie MP, Member for Denison.
After years of ordinary Australians reaching out to Mr Katter with stories of loss, intimidation and denial of justice, an Inquiry of the highest order has been called as the first Motion of the 45th Parliament
In the House, Mr Katter spoke about the high number of agricultural foreclosures in western Queensland.
“You can’t begin to imagine the pain and misery coming out of our little towns because of the banks,” Mr Katter said.
“People have been meeting their interest and repayments and they are still sold up by the banks even if their contracts say they can’t,” he said.
“The banks performance has been appalling. They have inflated house prices out of the price range for ordinary people.
“They have lent money where it should never have been lent and again and again acted in complete breech of the contractual obligations.
“If you tell me there’s not a massive crash coming here, then I say you’re a numbskull.
“The banks have to accept some significant blame for the decline of the Australia’s economy.”