Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697646726908.pdf (Australia)
Senate Economics Committee Submission The Critical Thinkers Society is an independent social club and political think tank based in Sydney.

Many of our discussions revolve around the future of the global economy, with a wide consensus that we are heading towards another global financial crash.
We strongly support the passage of this bill, and make the brief submission to the inquiry to raise a strong benefit of the bill: Separation of speculative financial gambling from deposits simplifies future bail-outs It has long been a position of the Critical Thinkers Society that we are heading towards a new global financial crisis in the near term future.
If another GFC style event does occur the same methods of government and central bank intervention that assisted in the aftermath of the previous crisis would not be successful in the next one.
If we attempted a similar US style government bail-out of distressed banking institutions without this legislation, the cost for the taxpayer would be astronomical as governments would be forced to finance the acquisition of any distressed bank's liabilities in order to save the banking institutions and protect deposits.

What this legislation enables is the separation of customer deposits from the other gambling aspects of banking.
It still enables banks to gamble, but not whilst they possessed customer deposits.

That is one of the primary benefits of this banking legislation.

It enables the government protection of deposits to occur whilst excluding the government from paying the bill for failed speculative gambling activities.

Banks will no longer possess the implicit guarantee that they will be bailed out for their own gambling losses.
It also cuts through the argument of an institution being 'too big to fail', as their speculative derivatives gambling would be separate institutions from those that held deposit accounts.

We also add our support to the calls that this committee should hold public hearings and inquiries.

Sam Hansen Banking System Reform (Separation of Banks) Bill 2019Submission 47