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Occupy Auckland to march on Westpac against banking system

25 November 2011

Occupy Auckland to march on Westpac as a part of their first weekly protest action against the banking system.

Occupy Auckland will march on Westpac leaving from Aotea Square at midday today to highlight the inequality of wages in NZ, the greed of the 1%, and the rampant corruption within the financial system.

Occupy Auckland spokesperson, Chris Glen, says that ‘no more should New Zealanders have to put up with the stranglehold Foreign Banks place upon the people of our nation’.

‘While the everyday person has been left behind due to the financial crisis caused by the banking giants, the leaders of those same institutions are riding high, winning the jackpot every year and profiting risk free from the misfortune of others.’

Occupy Auckland supporter Rogan Boyle considers 'It is wholly unjust that the CEO of Westpac, George Frazis is paid more in one hour than a minimum wage worker earns toiling away for 5 weeks.'

The transgressions of Westpac don’t end at grossly disproportionate executive salaries. With Government Minister Simon Power joining Westpac as the head of the Private Banking Division the boundaries between Government and the private banking sector are increasingly blurred.

‘Simon Power in what is frequently described as having a huge conflict of interest is going through the revolving door: From Minister for State Owned Enterprises, Minister of Commerce, and Associate Minister of Finance to managing and no doubt legally protecting the money of those set to gain most after the election if the nations state owned assets are sold off to the highest bidder,’ considers Mr Glen.

ENDS

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