Is the ‘Bail In’ legislation a danger to depositors?
Luke Grant is joined by Peter Switzer, from Switzer.com.au, for his view regarding the controversial ‘Bail In Legislation’ that was rushed by Parliament on 14 February 2018, with just seven senators present in the Senate chamber and without a recorded vote.
It is intended to provide relief to financial institutions on the brink of failure by requiring the cancellation of debts owed to creditors and depositors.
Bailouts help to prevent creditors from taking on losses while bail-ins mandate creditors to take losses.
*includes audio of The Australian Newspaper’s Adam Creighton speaking with Alan Jones on Mr Jones’ Sky News programme
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