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WHEN Ben Chifley decided in 1947 to nationalise the banks, he made the announcement in a statement that contained just 40 words: 'Cabinet today authorised the attorney-general and myself to prepare legislation for submission to the federal Labor parliamentary party for the nationalisation of banking, other than state banks, with proper protection for the shareholders, depositors, borrowers and staffs of private banks,' it said.
That was it. Chifley was renowned for his down-to-earth, no-nonsense manner, but it hardly captured the scale of the decision.
The banks mounted a huge public campaign against nationalisation and, with the help of the High Court and voters in the 1949 election, killed it off. Ever since, Labor governments have been doing banks huge favours

'Congress should wake up before it faces the ire of North Indians in the Lok Sabha and assembly elections in Delhi, Bihar and Uttar Pradesh,' he said, while condemning the lynching of a youth from Uttar Pradesh in a train in Maharashtra on Tuesday.
Singh would soon meet UPA chairperson Sonia Gandhi to urge her to prevent repetition of such incidents.
Amar asks Lalu, Paswan to quit UPA
The Samajwadi Party asked Union ministers from Bihar Lalu Prasad and Ram Vilas Paswan to resign from the Cabinet in the wake of attacks on north Indians in Maharashtra in an apparent bid to put pressure on the UPA Government to prevent such incidents in that state.
Talking to reporters in New Delhi, SP leader Amar Singh said Lalu Prasad and Paswan should take a serious view of the attacks on north Indians in Maharashtra and resign from the Cabinet as a protest.
'Had I been in the Cabinet, I would have resigned as the Vilasrao Deshmukh government is not taking steps to prevent attacks despite the Prime Minister's intervention...I request Lalu Prasad and Paswan to resign from the Cabinet,' Singh said.
He said he would not support the demand for imposition of President's Rule in Maharashtra as 'fortunately or unfortunately we are supporting the UPA'

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