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Australian banks’ capital levels must be ‘unquestionably strong’, according to the Financial Systems Inquiry. AAP/Dean Lewins

APRA fiddles on bank risk while Rome burns

Some argue, determinedly and erroneously, that when functioning correctly bank capital levels are almost magical things.
A US inquiry is questioning Lynn Tilton and her firm Patriarch Partners over its relationship with an ex-Army official, Norbert E Vergez. Wikimedia Commons

Private equity’s very public connections

US reports have recently circulated of a government probe into the hiring of former Colonel Norbert Vergez by the private equity firm Patriarch Partners, headed by billionaire “turnaround queen” and would-be…

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