The Banking Royal Commission

[Contra Mundum]

after enduring the TURC I am enjoying the transcript in this RC - Counsel assisting do a double take every five minutes - there is one reproduced here

https://newmatilda.com/2018/04/26/c...ng-banking-bastards-honest-proved-impossible/

 

[Chief]

Anyone catching the ad blitz from the banks? One is advertising their special interest free loans to buy a fridge. They just can't stop giving, that's their problem. How they make money is beyond me.

 

[Kram]

I loved it when CBA pulled their sponsorship from the cricket team after the ball tampering thing.

 

[Dry Rot]

How the Coalition ran interference for the banks

https://www.smh.com.au/business/ban...terference-for-the-banks-20180425-p4zbjz.html

 

[NSWCROW]

 

[Procrastinator35]

Seems his conscience had a clash with the truth.....Unbearable for a banker.

Medic.

 

[AM]

It's annoying that the narrative is turning from "there is criminal behaviour at the big banks" to "ASIC is an ineffective regulator". It feels like the perfect crack in the story for the banks to scoot through. Everyone will be busy discussing what needs to be done with the regulator, allowing the banks to get hit with a wet lettuce leaf without raising too many eyebrows.

The focus will continue to be on the banks and there appalling practices. That doesn't mean we should forget the Coalition cutting funds to ASIC and thereby significantly reducing its capacity to do its job.

The Coalition is about bashing unions and protecting big business, that's why they were dragged kicking and screaming to this Royal Commission. And in the process running interference for the banks.

 

[medusala]

You could always buy bank shares, not that I would at the moment

Banks and super funds all neatly tied up together, virtually everyone holds banks shares via their super.

A very, very incestuous world (and unions in it via industry funds).

The Coalition is about bashing unions and protecting big business, that's why they were dragged kicking and screaming to this Royal Commission. And in the process running interference for the banks.

If only they would bash unions. The current IR scheme is blatantly unacceptable to business and against all concepts of natural justice.

 

[AM]

 

[Benny78]

Absolutely pathetic. I hope they pick up where they left off with him right away.

 

[Dry Rot]

Absolutely pathetic. I hope they pick up where they left off with him right away.

In hospital. And no life support for oxygen thieves like him.

 

[Bombermania]

It's annoying that the narrative is turning from "there is criminal behaviour at the big banks" to "ASIC is an ineffective regulator". It feels like the perfect crack in the story for the banks to scoot through. Everyone will be busy discussing what needs to be done with the regulator, allowing the banks to get hit with a wet lettuce leaf without raising too many eyebrows.

If people just wanted stories of rip off then this RC would prove to be pointless, this RC has to look at how and why the system works as it does in order to fix it. I am not getting why people are complaining about the lack of big wigs appearing although a number of senior people have already testified, it is clear that Orr and co are building the case for when the senior people do appear as I believe they will be later on.

 

[NSWCROW]

Oh s**t i posted a tweet again


Colin Northcott

 

[Baltimore Jack]

RC recommends charges against AMP....this should be interesting

 

[Admiral Byng]

RC recommends charges against AMP....this should be interesting

They'll get a $7.50 fine and be forced to sign a letter saying “we promise not to do it again”. Meanwhile the ASIC investigators will get sacked for allowing themselves to be mislead.

 

[Mofra]

They'll get a $7.50 fine and be forced to sign a letter saying “we promise not to do it again”. Meanwhile the ASIC investigators will get sacked for allowing themselves to be mislead.

If ASIC are ASIC they'll give their investigators a strongly worded letter and nothing else.
Weak, weak organisation.

 

[Admiral Byng]

If ASIC are ASIC they'll give their investigators a strongly worded letter and nothing else.
Weak, weak organisation.

Fair point

 

[Baltimore Jack]

They'll get a $7.50 fine and be forced to sign a letter saying “we promise not to do it again”. Meanwhile the ASIC investigators will get sacked for allowing themselves to be mislead.

Meanwhile the CFMEU regularly gets hit with $500,000 fines....and people wonder why the system gets criticised

 

[RupieDupie]

Anyone catching the ad blitz from the banks? One is advertising their special interest free loans to buy a fridge. They just can't stop giving, that's their problem. How they make money is beyond me.

Have you seen The Westpac one yet, they've been pulling drowning people from the oceans and were pretty much singularly responsible for the defeat of the Nazis in WWII

 

[Kram]

Good, the CFMEU can EAD.

 

[NSWCROW]

" Tell dutton to warm up "

 

[11sjw]

Good, the CFMEU can EAD.

Whilst I agree that they tend to be a pack of fat useless Karmichael Hunts that have never worked a day in their lives. This RC has shown that the financial industry is full of of Karmichael Hunts of a different variety.

 

[RupieDupie]

Help. It’s what Australians do.

Help themselves to Australians money is what Westpac does

 

[HairyO]

Private health and profiting from disease is a scam.... a sick scam.

Throw in privately owned prisons.
Vitamin manufacturers.
Financial panthers.
Used car salesmen.
Lawyers.

Snake oil salesmen broadened their horizons.

 

[Kram]

Whilst I agree that they tend to be a pack of fat useless Karmichael Hunts that have never worked a day in their lives. This RC has shown that the financial industry is full of of Karmichael Hunts of a different variety.

In general I'm not anti unions actually but those guys are a pack of fat, lazy meathead thugs.