Category Archives: Commonwealth Bank

Four myths busted: Why we need a banking royal commission – ABC News (Australian Broadcasting Corporation)

MON AUG 08 11:59:35 EST 2016

Malcolm Turnbull announced the nation’s major banks will have to face the House of Representatives Economics Committee, but there will not be a royal commission.

Tens of thousands of Australians have had their lives ruined by the major banks. If there’s no need for a Royal Commission because ASIC has greater powers, then why is the Turnbull Government wasting time and money on a parliamentary inquiry that has less power than both? Ian Verrender writes.

Welcome to this week’s edition of Monday Conundrum. Today we have a real doozy.

Let’s see if you can twist your mind around this: If there’s no need for a Royal Commission into banks because the Australian Securities and Investments Commission has greater powers, then why is the Turnbull Government wasting time and money on a parliamentary inquiry that has less power than both?

Continue reading Four myths busted: Why we need a banking royal commission – ABC News (Australian Broadcasting Corporation)

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