Agree with what you have posted Dex but add that supposed strength of our banks does not mean that their conduct is one they can be proud of. They have much to answer for when their corrupt practices un-ethiclly ruin their clients and skim illegal fees from those using their services. I point out its already been proven and the remarkable thing is that if we didn’t have brave whistleblowers as per the Financial Planning scandal the cretins would still be ruining people. Whats been discovered is possibly the tip of the iceberg and I am all for a Royal Commission to ensure the industry is cleaned up. We may also find that a lot of clients/customers may be entitled to a lot more recompense than that which has already been disclosed.
If the banks and their Financial Planning arms endeavour to fight against a Royal Commission the more reason in fact to have one. Doing so may in fact forestall or prevent the collapses that have occurred overseas.
