What a load of rubbish (And this on top of all the populist nonsense from the anti bank gang yesterday who will no doubt be beside themselves today after the Dow took a hit last night!!)
Neither side has mentioned any thoughts on dismantling the 4 pillars policy because it would be a PR disaster as it would be seen to open the way for mergers and would be the last thing the general public would want (even bigger banks!!).
It also wouldn't fit into Labor's ideology and I think they would be least likely to try and get rid of it.
Various bodies have called for it to be dismantled over the years (for good reason) but it would quickly become a political hot potato...............
I think the Bank's would actually welcome it as growth opportunities are limited and enable some good expense reductions from integration and efficiencies through mergers!!
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(And this on top of all the populist nonsense from the anti bank gang yesterday who will no doubt be beside themselves today after the Dow took a hit last night!!)
(20min delay)