the issue is how society looks at responsibility - and, we have many examples of that
We make homeowners and car owners responsible for locking their property - because thieves only take some of the responisbility
We make teachers and schools responsible for children - not parents
we make hotels and venues responsible for selling grog to people - more responsible than the people who buy drinks and get pissed
so - with all of those examples - then, banks are most certainly responsible for loans to people
now, that doesn't mean that I am agreeing that it's a good idea - but, this is the way it is -
Australia has made responsibility this way ----- not all places are like that. We chose it.
I believe that there are degrees in all of it ------ there are cases where banks and finance companies should be stung up for loaning to some people -- but, on the other hand - people should be more aware than they are -
the problem is IMO - that people are not well versed in the risks ---------- it's ok to take risk if you know what you are taking on - if it works - fine, if it falls flat - fine, but, bad luck
the point is that modern finance is very complicated - and, people in general have no idea ------------ banks and financial institutions do - or should do (although it's doubtful if their workers are across things much more than most of the customers).
The findings of the royal commission should tell us something ---------- and, one of those things is that banks are very irresponsible - and, should be held to account.
