The visible hand
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Five minutes, that’s all! Behave tolerably well for 5 minutes each day, for 25 measly minutes each week, that’s all we ask. The rest of the time, traders can behave like overgrown schoolyard bullies, as…
With all the weight of evidence stacked against the banks in the case of BBSW benchmark, surely now is the time for the government to enforce regulation.
It may be the effect of the election but the regulation of banking in Australia appears to be descending into farce. Just last week, maybe in anticipation of adverse events to come, the Australian Financial…
Just last month, the US Department of Justice (DOJ), fined Goldman Sachs over AU$6.7 billion and Wells Fargo over AU$1.6 billion for “improper mortgage lending practices” specifically securitising and…
In announcing new money for the Australian Securities and Investments Commission, the Treasurer and the Minister responsible Kelly O’Dwyer executed a synchronised back flip with tuck, declaring that “The…
Last week, Commonwealth Bank announced the creation of a Blue Riband panel to “provide an additional layer of assurance for complex claim assessment and decision-making processes” at its troubled CommInsure…
The reactions of ANZ and Westpac management to recent legal actions by ASIC alleging manipulation of the Bank Bill Swap Rate (BBSW) benchmark are instructive of the attitudes of the major banks. ANZ wheeled…
It’s official, it’s war. David Murray kicked the war off this week with his rather immoderate potshot at the corporate regulator, ASIC, for its efforts to address banking culture And to be perfectly candid…
In the scandal over possible misconduct by CommInsure, the insurance arm of CommBank, for its treatment of sick and dying customers, much has been made about how serious illnesses are diagnosed. In one…
How can someone go to bed at night with a clear conscience, knowing that somewhere in Australia there’s someone that’s dying… in their darkest hour? What are the rules for nominating someone for an Australian…