Banking inquiry findings – ask the wrong questions get the wrong answers
- Written by Pat McConnell, Honorary Fellow, Macquarie University Applied Finance Centre, Macquarie University
This week, Australia hit a new low point in the politicisation of banking regulation.
In a report into the four major Australian banks, the members of the House Standing Committee on Economics were hopelessly divided along party lines about the answers given to them by the bank CEOs.
The grilling of the Big Four CEOs was less Stalinist show trial,...