In the past week or so we’ve seen another RBA rate rise, another round of the banks overshooting the RBA rate mark, and another series of chastisement from the PM and the Treasurer. It’s starting to feel like Groundhog Day.
FSU...
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If a stadium collapsed, killing or injuring thousands of people, we’d rightly expect something done. There would be an inquiry, no doubt, followed by recommendations. And industries involved would be told, not asked, to...
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On the face of it, Australia seems to have dodged most of the bullet that hit the world economy about a year ago. Though we are the only developed country to avoid a technical recession, Kevin Rudd should resist the temptation to gloat at...
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The Global Financial Crisis has brought to light many of the excesses of our financial and corporate systems. As US banks start to return to profitability and economic forecasters point to signs of recovery, we cannot afford to simply return to...
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Campaigning delivers
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Thursday, 14 May 2009
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The FSU reported to members recently on significant developments resulting from the union’s long running campaigns to stop offshoring, and to promote responsible lending practices by our banks.
The union welcomes moves by both the...
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As the global financial crisis reaches Australia, the Rudd Government's rhetoric and response are at odds. In magazines, Mr Rudd writes about the collapse of casino capitalism and how government can save markets from themselves.
In office, Mr...
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As part of the Invest in Australia campaign, your union took your issues to the International Labour Organisation (ILO) meeting on the impact of the finance crisis on finance workers.
You can read more about the FSU’s plan to secure...
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Next week, your union will represent you at the ILO global forum on the impact of the global financial crisis on finance sector workers, and at the UNI Finance G20 workshop following the forum.
The global forum will explore the impact of the...
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Change begins at home
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Thursday, 5 February 2009
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I, like many other Australians, have been watching the progress of new U.S. President Obama, paying particular attention to his plans to stimulate the U.S. economy, free up credit, and limit executive remuneration in the finance sector.
The...
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State of the Union
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Wednesday, 3 December 2008
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The Global Financial Crisis has engulfed the finance industry across the world and is being seen as the greatest test of our financial system and our economies since the Great Depression of the 1930’s. Members of FSU have long warned about...
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This week, I read a report in the New York Times about the failure of U.S. bank Washington Mutual. When Washington Mutual was seized by federal regulators in September, it was called the biggest bank failure in U.S. history.
The article...
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It has been an intense couple of weeks, with the financial meltdown triggered in the U.S. now having an impact globally and we’ve seen governments around the world stepping in to underwrite banking systems with taxpayers’ money.
...
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Thousands of FSU members in Australian banks are facing uncertainty with major banks using the global financial meltdown to launch opportunistic takeovers. The big banks who have been circling their smaller competitors are now swooping in for the...
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One has to marvel at the intransigence of Australian banks. With more than 1 million Australian households projected to experience some form of mortgage stress by December this year, and both the Reserve Bank and the Federal Treasurer calling for...
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Recently we spoke to members about the issue of Debt Stress in our society and throughout our industry. Click here for a copy of the Debt Stress publication.
It has now been widely acknowledged that the US sub-prime economic woes are...
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New economic modelling projecting the loss of 850,000 jobs in the Australian services sector was released this week by the National Institute of Economic and Industry Research. The report identified that 1 in 10 service sector jobs could be sent...
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News that Westpac is proposing a takeover of St George and Bank SA has shaken up Australia’s finance industry.
The news comes hot on the heels of QBE’s bid for IAG. The IAG board have rejected the bid, but the prospect of merging...
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The Federal Government needs to review all bank licensing arrangements to ensure that Australia’s major banks maintain back office jobs in the country.
The offshore race to the bottom is clearly intensifying with ANZ and Westpac...
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FSU is consistently contacted by members under severe pressure at work due to inadequate staffing. It’s an issue that is not confined to one employer or even one part of our industry, but right across the spectrum.
Members working in...
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Nominations are now open for positions on the FSU Local Enterprise Councils in each of our state branches.
The Local Enterprise Council (LEC) is a state forum for reps elected by members at their particular enterprise. It’s an...
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