The extent of the predation by the Big 4 banks, the NAB and CBA in particular, over small businesses and family farmers cannot be overstated. The ‘petit bourgeois’ sectors are the darlings of the ideology that perennially defends the market system in terms of its robust independence, its vibrancy, its initiatives, and so on. But ideology and reality dwell in separate worlds. Members of the petit bourgeois sectors are the fish in the barrel ― to be speared at will.

The entire system condones the white collar crimes committed by corporations and protects senior personnel who initiate or condone such crimes within their corporate organisation. The legal profession is pervasively corrupt, nourished by an impoverished education and an ethically vacuous professional legal culture. Both legal culture and legal practice are rooted in the law of the jungle.

The judiciary itself is pervasively complicit or (on the margins) corrupt, hiding behind a bizarre ritual of ‘precedent’ that supposedly grants objectivity to judgements that are transparently discretionary and partisan. The regulatory system, regardless of formal legislative and regulatory powers, is pervasively inept, cowardly or complicit. The relevant bureaucracy (especially the Federal Treasury with regards to financial institution corruption) is otherworldly and indifferent.

The political class is cowardly and indifferent; at best, cynically directing victims who seek their assistance to the mediation/regulatory agencies or the legal system that the political representatives themselves know to be of no help to the victims. Finally, we know so little about this integrated structure because the media will not cover it.

The current situation in Australia is thus entrenched and suits the powers that be. ‘True criminals’ will continue to be incarcerated for the purposes of retribution. Lower order white collar criminals will continue to be incarcerated, for various reasons: having betrayed their white collar superiors (bank employees stealing from the bank rather than for the bank); tokenism (Ariff); having no corporate cover (Agius); and so on. Others with good social standing will be let off with minor charges for serious crimes because they acted ‘out of character’ and because they are so “respectable” public embarrassment is seen as punishment enough.

But those at the top of the white collar tree, armoured by the corporate entities and their resources over which they preside, will continue to commit crimes that will not even be recognised as such. When they leave their jobs, it will be with generous emoluments and praise (refer Ralph Norris upon departing the CBA). And this splendid arrangement will continue indefinitely.

At the top corporate level in Australia, the idea of white collar crime remains essentially an oxymoron. It will be white collar business as usual ― and its masses of victims be damned.

The Commonwealth Bank takedown of BankWest customers - Part 1

The Commonwealth Bank takedown of BankWest customers - Part 2

The Commonwealth Bank takedown of BankWest customers - Part 3

The Commonwealth Bank takedown of BankWest customers - Part 4

The Commonwealth Bank takedown of BankWest customers - Part 5