keywords: Banking Royal Commission

  • AUSTRALIA

    Banking royal commission is popular, not populist

    • Andrew Hamilton
    • 26 May 2016
    7 Comments

    The evidence of misbehaviour by banks has become public at a time when the underlying ideology has also been criticised. The inherent unlikelihood that an economy based on individual greed will benefit the whole of society is now patent. It is seen as much more likely that unregulated competition for material gain will lead to the concentration of wealth in the hands of the wealthy and powerful. Evidence now suggests that inequality hinders the economic growth it was presumed to nurture.

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  • RELIGION

    Vatican pointers for banks royal commission

    • Andrew Hamilton
    • 30 May 2018
    15 Comments

    As the royal commission prepared to resume its hearings into financial services the Vatican released Oeconomicae et pecuniariae quaestiones, on the ethics of markets. Although written quite independently, passages of the document could have been mistaken for factual reporting of the royal commission.

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  • ECONOMICS

    It will take more than a royal commission to tame the banks

    • David James
    • 10 October 2016
    2 Comments

    The strategy of the Big Four banks' appearance in parliament was clear enough. Blame the whole thing on a need to improve impersonal 'processes', imply that there have been a few bad apples but overall things are fine, and promise to do better in the future. The greatest challenge was probably to hide the smirks. A royal commission is being held up as an alternative, and no doubt it would be more effective. But a royal commission would not address the main issue.

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  • AUSTRALIA

    Banking on the common good

    • Andrew Hamilton
    • 15 August 2018
    7 Comments

    If trustees don't understand the meaning of trustworthiness, all the penalties in the world won't encourage them to act in a trustworthy manner. What is needed is conversion — the recognition that the good of each individual depends on their seeking the common good, and the determination to ensure that this vision permeates corporations.

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  • AUSTRALIA

    Are we respecting our elders?

    • Cristy Clark
    • 26 November 2020
    5 Comments

    This past weekend, I visited my grandparents in their residential aged care home. As usual, it was both lovely and utterly heartbreaking. Lovely, because I feel so lucky to be able to spend time with them, that they are still alive, their home is accepting visitors, and they still remember who I am. But, also, heartbreaking, because aging is tough, and living in residential aged care is tougher still, and this year, well, this year has made it all so much harder.

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  • MEDIA

    AAP is a vital supplier of Australian journalism

    • Isabelle Oderberg
    • 13 March 2020
    6 Comments

    Most restaurants don’t grow all their own food. Of course, they can and may grow some produce, but their expertise is on the preparation, cooking and plating of the dish. They look to farmers to supply the raw ingredients. This is a pretty good analogy for the role of the national newswire, Australian Associated Press (AAP), which will be closing mid 2020.

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  • AUSTRALIA

    Shaking faith: the Taylor and Westpac scandals

    • Joe Zabar
    • 04 December 2019
    4 Comments

    In light of the banking royal commission and the government's work in developing a plethora of transparency and integrity measures, it beggars belief how Brian Hartzer and Angus Taylor could bring upon themselves and their respective institutions so much unwanted publicity.

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  • INTERNATIONAL

    On power and Koreans' American fear

    • Christine Burke
    • 04 November 2019
    4 Comments

    Anyone interested in social justice knows that structures and systems can bolster the worst tendencies of human nature, can incubate 'social sin'. Korean friends, when asked if they live in fear of North Korea, almost always tell me 'we fear America more'. To me that seemed a bit of an overstatement. Now I understand their response.

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  • AUSTRALIA

    Voters are awake to politics' game of yawns

    • Alana Schetzer
    • 14 June 2019
    6 Comments

    It's obvious — so clearly obvious — when politicians are avoiding being genuine and simply don't want to answer a question. It's tiresome. It's boring. And people are tired of politicians assuming they can't tell the difference between an honest answer and a slogan or 'blame game'.

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  • ECONOMICS

    Breaking down Hayne's humanistic report

    • R. P. Lim
    • 07 February 2019
    2 Comments

    Hayne's report brings into play ideas surrounding collective humanistic values and goals, and natural law principles based on commonly understood ethics and moral standards. What is striking is how the financial services industry has dehumanised consumers, and those within the industry providing the services at the frontline.

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  • AUSTRALIA

    In praise of unsmiling Hayne

    • Moira Rayner
    • 07 February 2019
    9 Comments

    An academic friend of mine made a dilligent and well-argued case that Hayne had failed in his task to 'tackle bank structure'. With the greatest of respect, this was not the job Hayne had to do. To imagine otherwise is to misunderstand both the law, and what it is 'meant' to do in the hands of those who are judicially trained.

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  • AUSTRALIA

    Banks remain protected species

    • John Warhurst
    • 04 February 2019
    10 Comments

    Kenneth Hayne's royal commission into the financial sector has named, shamed and excoriated banks, regulators, insurance companies and other financial services businesses to the extent that you would think they are now extremely vulnerable and universally unloved. That would be a mistake.

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