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What has happened to the rainbow nation?

Race baiting is the default political tool of dishonourable politicians seeking short-term goals. Detailed studies by the Institute of Race Relations shows ordinary South Africans of every colour are less concerned with the issue, and believe merit should be the basis for job selection. When Julius Malema says he is not calling for whites to be slaughtered (just yet?), are we to believe whites are here under sufferance? Rex van Schalkwyk, a former judge of the Supreme Court of SA, looks at what has become of the rainbow nation and whether we should believe politicians who cry racism as the source of all evil.

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Regulator takes Standard Bank to court to stop practice of "set-off"

The National Credit Regulator (NCR) is seeking a high court order to stop banks from unilaterally taking money from customers’ savings accounts to settle outstanding balances on their credit agreements — a practice which the regulator says is widespread.

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Project Spear - the documentary banned by the SABC to shield the government

In 2011 Sylvia Vollenhoven put together an explosive documentary explaining how R30 billion was allegedly stolen from government in the final years of apartheid. The SABC refused to air the documentary, claiming it did not meet broadcasting standards. As the documentary explains, some of this money went to Broederbonders, and there's allegations of a former apartheid-era minister rushing off to the US with suitcases of looted money. One Reserve Bank shareholder asked to see evidence that the Reserve Bank actually has the gold it says he does, and is told this is forbidden. Then there is the R1,1 billion "lifeline" from the Reserve Bank to Bankorp (now part of Barclays Absa), of which only the capital had to be repaid. And as Judge Willem Heath points out, this loan was guaranteed with government bonds. If that seems weird to you, imagine your mortgage bank lending you money to buy your house and using it's head office as the collateral. It doesn't get much weirder than this.

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Call for inquiry into state capture by corporations - is this Zuma's payback for Zuptagate?

One of the targets of those calling for a public inquiry into the looting of state resources by apartheid-era monopoly capitalism is oligarch Johann Rupert, who last year called for Zuma to go. This is payback time. There is a long story behind this episode, going back more than 20 years when Sanlam-owned Bankorp (now part of Absa) received an illicit bail-out, funded ultimately by taxpayers. It is certainly worth re-opening this saga, but an inquiry would be pointless if it didn't also look into repeated allegations of bank-capture of the court system.

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