Scott Morrison takes aim at Bill Shorten over call for Royal Commission into banking sector, page-12

Perhaps we need a RC to look at how our banking system is working or not working.

We need to look at whether there is, in fact, "monopolistic behaviour" via "collusion". The collusion can be actual or assumed in the sense that the big four can pre-empt the behaviour of the opposition.

We are, in Oz, at the mercy of the big four and have been for donkeys. Demonstrably, they are working in their own interests and in the interests of their s/h's. They are not working in the interests of the public (broadly defined) generally.

Yet when there is an event such as the GFC they go cap in hand to the Guvnuts to provide a guarantee for all sorts of events.

So there is a special relationship between the banks and society in general. We need to identify what this is and how it should impact on behaviour by the banks.