The Money Masters by Ian Reinecke

The Money Masters

Banks, Power and Economic Control

by Ian Reinecke

William Heinemann, 1988, ISBN 085561238X, paperback

Very Good Condition, minor edge and shelf wear, minor rubbing and bumping to edges and corners, no inscriptions, age toned pages (see photographs)

“Who fully understands what is happening in the world of Australian finance? The dollar fluctuates daily, stock markets boom and crash, interest rates rise and fall, companies merge or are taken over, charges are introduced on savings accounts and the foreign debt balloons.
At the centre stand the banks.  Once guardians of the savings of small depositors and lenders for home mortgages, today they own stockbroking houses and insurance companies and have merchant banking and foreign exchange operations.  Most of them have expanded overseas, buying up financial services to build global empires.
Their rush to welcome financial giants has been encouraged by the floating of the dollar and the repeal of regulations that prevented competition from abroad.  Ian Reinecke asks how their new power affects customers, staff and the Australian economy and argues that they have assumed a role that is as powerful as it is unaccountable.”