The Story of John Wacker Williams

Senator John Wacker Williams was a victim of Commonwealth Bank. He told me his story, which was after deregulation of the financial markets,. The banks were just going crazy, lending money to anyone and coming up with these exotic products. They convinced him to get $640,000. Nothing could go wrong. It was just a cheap interest rate. Two weeks later, the currency changes. And that loan is now $1.5 million. So he was trading a million dollars a day, the shearer. Ended up losing his family and ended up in a $2,000 caravan. That was a way to tell the story about financial deregulation.Nothing ever happened with the banks. They just