Published: February 05, 2019
The royal commission has not showed us banks are too big to fail, they are too big to reform
When Kenneth Hayne humiliated Josh Frydenberg by refusing a handshake as he handed over his royal commission report last week, it was tempting to see him as stony-faced fast bowler about to unleash a series of unplayable deliveries to an industry running scared of a fearsome opponent.
After all, the banks had seen their carefully cultivated reputation for propriety shredded by Hayne attack dogs during the commission hearings. Banking shares had lost more than billions in value over the year. AMP, Australia’s venerable wealth management company, had endured a near-collapse thanks to the commission exposing its appalling treatment of customers.
Continue reading...from The Guardian http://bit.ly/2Sx8D8G
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