Australia: Green Party Introduces Legislation to Stop Further Increase in Mortgage Interest Rates

From Bloomberg via TPID:

Australia’s Greens Party will introduce legislation in the lower house today in a bid to place restraints on the ability of Westpac Banking Corp. and its closest competitors to increase mortgage interest rates. The Greens aim to put a 24-month freeze on the so-called “Big Four” domestic banks, banning them from raising their interest charges by more than the Reserve Bank of Australia’s increases . . .

12 thoughts on “Australia: Green Party Introduces Legislation to Stop Further Increase in Mortgage Interest Rates

  1. Dale Sheldon-Hess

    This is the second article about what “the Greens” will do in Australia’s lower house that I’ve seen.

    My question: why is it pluralized? There’s just one!

    You don’t talk about what “The Vermont Progressive Party” is doing in the US Senate, you talk about what Sen. Sanders (I-VT) is doing in the US Senate.

    So don’t talk about what “The Green Party” is doing in the Australian house, talk about what Adam Bandt (G-Melbourne) is doing in the Australian house.

  2. Carey Campbell

    Thanks for the story, and the post.

    Another major Green Party success. The Green Party in Austria has taken over leadership, for the first time in the city/state government in Vienna, Austria.

    The Vice Mayor will be the Austrian Green Party’s Maria Vassilakou. In another impressive Green Party first, Maria Vassilakou is an immigrant from Greece, and now is the Vice Mayor/Lt. Governor.

    Maria Vassilakou picture
    iepresse.com/home/politik/innenpolitik/609772/RotGruen_Diese-neun-Koepfe-regieren-Wien?gal=609772&index=3&direct=&_vl_backlink=/home/politik/innenpolitik/index.do&popup=

    http://www.facebook.com/pages/Rot-Grun-fur-Wien-Alles-andere-ist-Schwachsinn/153537968018435

    http://www.taz.de/1/politik/europa/artikel/1/rot-gruen-in-wien-fpoe-wuetet/

  3. Carey Campbell

    Green Party is governing….

    Green Party’s Tim McKee makes excellent point…

    “….look to the new story — The Green Party is governing — here in this state with elected officials making real laws and important choices at the local level and across the world as elected leader of world governments. We are not a “sideline protest party.” We get elected as First select people, city and town councils and member of parliaments. In 2012, we plan to run a record number of local race and win more seats. Visit our web at greenpartyct.org and join our governing team!

    Tim McKee
    National Committee of the Green Party of the United States,
    Middletown

  4. tiradefaction

    @5

    …..

    I’m still shocked so many people voted for the tard. I mean, party loyalty REALLY is that strong in this country…

  5. paulie Post author

    I’m still shocked so many people voted for the tard. I mean, party loyalty REALLY is that strong in this country…

    If I was a Republican with a bunch of money, I’d be cutting him a check right now and encouraging him to go ahead and run for president. Since I am neither a Democrat nor a Republican, I don’t mind if they happen to stumble across my suggestion (not that it’s likely), it would make the primary season way more interesting if Alvin Greene dogs Obama in the D primaries, LOL.

  6. tiradefaction

    @8

    Oh my god, just imagine him being the Dem nominee…..

    On the positive side, some third parties would probably break get around 9-10% nationally. Well..hopefully…

  7. paulie Post author

    I don’t see him actually beating Obama, LOL. Just embarrassing him and his party enough to make it entertaining. If the Republicans have not already tried to get in touch with him and funnel some money his way, they are just not using their thinking caps. Run Alvin Run! ROFL

  8. tiradefaction

    @10

    “I’m running uh…liek…uh..to campaign…can we stop this interview?”

    There’s talks of drafting a primary challenger to Obama, the Repubs would be wise to get Alvin on board.

  9. Best We Can Do? [Lake]

    GREECE II?

    Rick Newman, On Tuesday November 16, 2010, 5:49 pm EST [USNews And World Report]

    “You may not have to worry about Ireland in a week, or a month. But at the moment, the Emerald Isle is causing global investors a whole lot o’ anxiety.

    On the surface, it’s reminiscent of the problem Greece had with its unmanageable federal debt early this year, which shook world markets ……

    Ireland is on the brink of insolvency too, which has helped drive down the S&P 500 stock index by nearly 4 percent over the last few days. But unlike Greece, Ireland is a relatively wealthy country, with per capita GDP of nearly $38,000.

    Low corporate tax rates and a skilled workforce have made Ireland a haven for some of the world’s biggest companies.

    And its public debt, about 65 percent of GDP, is far below Greece’s crushing load, which is 126 percent of GDP. Ireland’s debt levels are even lower than those in France, Germany and the United Kingdom.

    But Ireland has one huge problem that may soon make it a supplicant to its European brethren: A failed banking sector
    and real estate bust that could trump even the ruinous downturns that turned parts of southern California and Nevada into suburban ghost towns.

    The Irish government has effectively nationalized the nation’s biggest banks by guaranteeing their debt, which would be akin to the U.S. government taking over Citigroup, Bank of America, J.P. Morgan Chase and Wells Fargo.

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