Adele Ferguson

Bank bashing is an old sport in Australia, older than Federation. In 1910, when Labor became the first party to form a majority government in the new Commonwealth Parliament, they took the Money Power – banks, insurers, financiers – as their arch nemesis. With memories of the 1890s crisis of banking collapses, great strikes, and class conflict still raw, the following year the Fisher government established the Commonwealth Bank of Australia, ‘The People’s Bank’, as a state-owned trading bank offering cheap loans and government-guaranteed deposits to provide stiff competition to the greedy commercial banks gouging its customers.

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Gina Rinehart by Adele Ferguson & The House of Hancock by Debi Marshall

by
November 2012, no. 346

Reading two books about Gina Rinehart back to back is far from edifying. So rich, so controlling, so opinionated, so entitled – and these are among her less objectionable qualities, as described in the two biographies published since she burst into the headlines amid reports of family litigation, media buy-ins, and escalating wealth. Indeed, whatever she did would captivate widespread interest, given that her worth ballooned from a tidy $900 million in 2006 to $20 billion this year.

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