Complaints that Hayne didn’t recommend big changes miss the point.
Ken Henry on ABC 7.30 Thursday night. “We have not been able to satisfy customer expectations, nor community expectations. As I said, for that, we are deeply sorry.”
ABC
We get defensive when the social order we have become accustomed to is challenged. We attempt to protect ourselves through projection, denial, games, blame, or rationalisation.
Kristen Bell, William Jackson Harper, Ted Danson, Jameela Jamil and D'Arcy Carden from The Good Place. The TV series’ navigation of ethics shares touch points with Australia’s banking royal commission.
IMDB
In a letter to Morrison, Shorten said both houses should be recalled on March 5-7 and March 12-14. The sitting calendar has only 10 sitting days before the election.
There’s a 10 to 15 year cycle for financial service royal commissions.
Kym Smith/AAP
While many Hayne’s recommendations are laudable and abolutely necessary, they are not sufficent to end of the regular cycle of appalling misconduct and inquiries.
If you are valued more for ends than means, you’ll cut corners with means.
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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.
It is just possible for the banks to regain our trust, but it won’t be easy.
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The royal commission didn’t examine economic abuse. If it had it would have found there’s much banks can do.
A decision of the New Zealand government means if a New Zealand bank goes belly up, Australian taxpayers could find themselves cleaning up the mess.
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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.
Royal Commissioner Kenneth Hayne’s next move will either refashion the industry, or merely seek a commitment from it to behave better.
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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.
NAB Chairman Ken Henry says it might take NAB ten years to fix itself. There’s no point in waiting.
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