Published: March 14, 2019
By capitulating to lobbyists the government is sending the message that parliament can be bullied out of doing the right thing
In handing down his final report of the royal commission into misconduct in the banking, superannuation and financial services industry, justice Kenneth Hayne warned that industries would cry “unintended consequences” as soon as they saw his blueprint for reform.
Hayne knew this would happen because it has happened before. Every previous attempt at reform in financial services has been undermined in this way. Governments often start out with good intentions but the industry fear campaigns, backed by slick lobbying behind closed doors, leave us with laws that are too weak to make a real difference.
Continue reading...from The Guardian https://ift.tt/2HwlEJM
via
0 Comments