13 thoughts on “Icelandic banksters jailed

  1. Pingback: Rap, other music, and social change | Dear Kitty. Some blog

  2. Mon Apr 28, 2014 9:15 am (PDT) . Posted by:

    “James Hutchings” apeloverage

    Australia’s major banks have funded companies responsible for illegal logging, forced evictions, inadequate compensation, food shortages and child labour, according to a new report.

    The report, ‘Banking on Shaky Ground’, by charity Oxfam, found that all four major banks – the Commonwealth Bank, Westpac, National Australia Bank and ANZ – have lent to Third World companies accused of forcing people from their land.

    The report found NAB had lent more than $200 million to Asian palm oil giant Wilmar, which has been linked to land grabs, and was named the world’s least environmentally friendly company by Newsweek.

    Oxfam Australia also accused Commonwealth of investing in an agribusiness giant whose Brazilian sugar mill is, it says, illegally sourcing sugar from indigenous lands.

    ANZ was financing a Cambodian sugar plantation involved in child labour, military backed land grabs, forced evictions and food shortages, while Westpac has supported a timber company in PNG accused of logging pristine rainforest through an invalid lease arrangement.

    (Source: SBS website)


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