International banks undermining commission

IT APPEARS that the international banks are now colluding to undermine the Competition Commission by using their financial and other resources to bring legal, marketing and public pressure to bear on the commission to abandon its probe into their nefarious practices.

Why would these banks try to intimidate the commission if they have nothing to hide?

Their track record points to a long history of manipulation of interest rates and currencies for profit, one of the ways of keeping Third World countries poor and in the control of international bankers, with the people who can least afford to be ripped off suffering the most.

The commission should not be intimidated and should extend the ambit of the probe to ensure that collusive practices are eradicated and strong penalties – legal and financial – are imposed on banks found to be guilty. NAAZNEEN MOTALA

Sherwood