Tying incentives to contribute to profits can give bad results, but we need to tie them to something.
Justice Hayne's philosophy is diametrically opposed to the one the Coalition came into office with, yet it has embraced it and announced action.
The Morrison government has promised to establish a compensation scheme paid for by the financial services industry as it seeks to avoid damage from the banking royal commission.
Rebuilding trust is possible, but as the aftermath of the banking crisis in the UK shows, very difficult.
Evidence before the royal commission suggests Australian bank boards have been overpaid, underskilled and understaffed compared with those overseas.
The royal commission didn't examine economic abuse. If it had it would have found there's much banks can do.
A mismatch between Australian and New Zealand regulations means Australian taxpayers could be on the hook if a New Zealand bank fails.
The Conversation played host to really important new ideas in 2018. Some will take years to develop. Others will never come to fruition. But they're important.
With public hearings finished, insiders are making a last-ditch bid to either soften or sidetrack the final report of the banking royal commission.
Proceedings at the banking royal commission suggest if it isn't in the minutes of a board meeting, the board didn't consider it. It makes the role of the company secretary critical.
There are practical steps we can take right now to fix the banks. History suggests they'll never do it left to themselves.
The first bank to embrace radical honesty would do well out of the royal commission and leave its rivals in the dust. But it would be hard.
Conditional superannuation which can we withdrawn years after bankers retire might be the best way to get them to do the right thing.
The economic underpinnings of the longstanding 'four pillars' policy are crumbling. Soon there may no longer be four big banks.
The best way to get bankers to behave well might be to bind them to a code of ethics, like doctors. We've tried ever tighter rules.
ASIC is under pressure to take every significant case to court. But that would delay justice and break its budget.
Negotiated deals between ASIC and alleged wrongdoers leave us in doubt as to the reach of the law.
Compare the ACCC to ASIC and it's clear why
Rod Sims has been reappointed to a record third term as Australia's top competition and consumer cop.
Getting better behaved banks isn't difficult. Here are three places to start.
In his three volume 1,000 page interim report Commissioner Hayne has built an irrefutable case for root and branch reform.