We don’t have four banks and two supermarkets in this country. We have one predatory group of foreign investors hiding behind different logos.
BlackRock, State Street, Vanguard, First State and others own large portions of the banks and supermarkets that are ripping Australians off the most.
Transcript
So, why does that happen? Why are foreign companies getting let off the hook? I’ll tell you why. It’s because many of even our large Australian companies are part-owned and controlled by foreign corporations. The major predators are BlackRock, Vanguard, State Street and First State. They own the four banks, sorry they own 10 per cent of the four banks combined and they own the controlling interest. They tell the banks what to do—BlackRock, State Street, Vanguard, First State and others in that little cohort of multinational predatory organisations. We don’t have four main banks. We have one main bank that is hiding behind four logos. That’s what we have. Same policies, same principles, same strategies, same products, same services.
Coles and Woolies, again, Blackrock, State Street, Vanguard. Go right through our corporations in this country. The corporations we thought were Australian owned, they’re foreign owned and controlled, and where does the money go? The profit goes overseas and what did the Morrison government do, along with the state premiers? Loaded it up so that foreign multinationals owning the large companies in this country made a killing out of COVID at the expense of small companies and small businesses.
