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Australia: Behind the $33.49 million package for Macquarie Bank’s chief executive
Howard’s remarks are utterly bogus and driven entirely by the approaching national election, which, according to recent polling, could produce a landslide defeat for the government. The Howard government and its Labor predecessors—state and federal—over the past two and a half decades have done their utmost to remove any obstacles to the amassing of huge profits by Macquarie Bank and other companies.
The announcement last week that Australia’s highest paid executive Macquarie Bank chief Allan Moss received a massive 57 percent hike in his annual remuneration package last year further highlights the vast and widening gulf between ordinary workers and the handful of super-rich that control the economy.
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