BFCSA: Capitalism NO CONFIDENCE created by Banks' Bad Behaviour.

"BEWARE WHITE COLLAR THIEVES AT WORK - no enforcement of law.

Time to wake up to the extreme dangers of Trickle Down Politics. Sections of the public are losing confidence in the capitalist system, Creating wealth is only available for the Elites. The creating wealth Industry is A MULTI FACETED SCAM.

It brings wealth to the creators and promoters and massive losses to the general public. Free Market gurus are only discussing the lack of confidence and trust due to the SCAMS capitalism creates by zero enforcement of law. must be hitting the bottom line. Otherwise why discuss something unless it exists? The free market policies pushed by the current Coalition extreme right Government has delivered homelessness to so many who owned their own homes. It has delivered poverty to those who saved a large superannuation nest egg to enjoy retirement.

The Australian Government Policies have permitted massive white collar crime CARTELS to infiltrate the banking and associated finance industries to run amok with toxic SUB PRIME LENDING mortgage products. Banks have run amok with people's security and life savings. These were TOXIC LOANS dressed up as legitimate ways to "create wealth." Truth is, they have created a new class of poverty. Soon,. as we sink further into minus territory, laden by massive DEBT, the truth of the crime wave conducted by bankers will be revealed. We are sinking closer to recession and perhaps depression. Citizens need to be aware of this phenomenon of corruption in Government as it will impact everyone, including those on welfare. What do we have to do?

Perhaps we start by hanging out the shingle:

"BEWARE WHITE COLLAR THIEVES AT WORK - no enforcement of law."

"LAWLESSNESS DOWN UNDER - due to greed and corruption." 

This free market thinker admits that trust and confidence is waning but he things we should carry on as before..........

Orica chair Malcolm Broomhead says confidence in capitalism is waning

Australian Financial Review Dec 15 2016 5:32 PM

Peter Ker

Orica chairman Malcolm Broomhead has warned sections of the public have lost confidence in capitalism and free enterprise, and business must get better at explaining its contribution to society.

Speaking in Melbourne on Thursday, Mr Broomhead also revealed the Orica board was considering reforming and simplifying executive remuneration structures at the explosives manufacturer.

Mr Broomhead pointed to Donald Trump's recent election victory in the US and UK voters' decision to exit the European Union as proof the financial crisis had left many people feeling the globalised economy had let them down.

"Since the effects of the global financial crisis hit in 2008, the capitalist free enterprise system has lost public confidence and support across the western world," he said. "In both Brexit and the new US President-elect, the view of many in the communities who voted for both was that the core of the capitalist system – both business and democratic government institutions – had let them down, and so the desire is to retreat away from our current globalised business and government institutions to an undefined, simpler world."

Mr Broomhead said the business community had to work hard to assure the public it was part of the solution, not part of the problem.

"It is important for business to get better at explaining our contribution and ensuring people understand that our standard of living relies on the contributions of industry," he said.

Mr Broomhead is also a director of BHP Billiton, and some may see the comments as an audition for the chairmanship of Australia's biggest miner, given the incumbent Jac Nasser has flagged plans to step down in 2017.

While sections of the public may be losing confidence in the capitalist system, Mr Broomhead made it clear he was not.

"Wealth is best created by unleashing the power of the individual human spirit to create, to grow and to evolve," he said. "The rise in living standards and quality of life of people everywhere has always been most successful when individual enterprise has been set free.

"There can be no wealth redistribution unless there is wealth creation in the first place."

Mr Broomhead also took aim at the modern structure of executive remuneration, saying it was highly complex, affected by opaque factors and often not a direct motivator of staff.

"Remuneration reports are incredibly complex, no one can understand them, and I don't think shareholders or executives ever know what the outcome will be for long-term incentives until the final day," he said.

Mr Broomhead said the Orica board was considering significant changes to the company's executive remuneration structure, and in particular was looking at ways to increase shareholdings among the executive team and to better align incentives with measures that are within executives' control.

"In my experience, the only way to truly align executives with shareholders is to make executives shareholders themselves," he said.

The comments come barely a week after Rio Tinto chairman Jan du Plessis admitted there were aspects of his company's remuneration structure he did not fully understand.

Mr du Plessis said the remuneration structure used by most British companies was "too complex by far".

Orica shares closed 10¢ higher at $16.87.