More than a third (35.4%) of respondents surveyed by the Australian Leadership Index believe banking and financial institutions show “no leadership for the greater good”.
Articles on Banking royal commission
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The government doesn’t need to extend jurisdictions, or boost enforcement powers to prosecute corporations that have behaved dishonestly. The law for prosecution is there already.
Complaints that Hayne didn’t recommend big changes miss the point.
Deep Saini speaks with Michelle Grattan about the week in politics.
We get defensive when the social order we have become accustomed to is challenged. We attempt to protect ourselves through projection, denial, games, blame, or rationalisation.
In a statement late Thursday, NAB said Thorburn would finish at the end of this month while Henry would leave the board once a new CEO had been appointed.
American fantasy-comedy The Good Place has covered some surprisingly similar ground to Australia’s banking royal commission.
It’s far away from the cities and towns where banks and finance companies are really predatory, but it’s not where Hayne looked.
Bank shares soared 4% to 7% after the royal commission report. That could be because it will do them little harm.
In a letter to Morrison, Shorten said both houses should be recalled on March 5-7 and March 12-14. The sitting calendar has only 10 sitting days before the election.
Michael McCormack on banks and the bush, and the election battle
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Acknowledging the big challenges ahead for the Nationals at the election, he told The Conversation he is "not going to write Cowper off yet".
While many Hayne’s recommendations are laudable and abolutely necessary, they are not sufficent to end of the regular cycle of appalling misconduct and inquiries.
Tying incentives to contribute to profits can give bad results, but we need to tie them to something.
Justice Hayne’s philosophy is diametrically opposed to the one the Coalition came into office with, yet it has embraced it and announced action.
The Morrison government has promised to establish a compensation scheme paid for by the financial services industry as it seeks to avoid damage from the banking royal commission.
Rebuilding trust is possible, but as the aftermath of the banking crisis in the UK shows, very difficult.
Evidence before the royal commission suggests Australian bank boards have been overpaid, underskilled and understaffed compared with those overseas.
The royal commission didn’t examine economic abuse. If it had it would have found there’s much banks can do.
Banking executives have huge incentives to maximise profits at all costs. They need equally compelling incentives to do the right thing.
Research on bankrupts illustrates the contrasting financial fortunes of older Australians.
Top contributors
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Professorial Fellow, University of Canberra
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Sessional Lecturer, PhD (Management) Candidate, School of Management, RMIT University
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Lecturer in Social Procurement, The University of Melbourne
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Professor of Law, The University of Western Australia
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Emeritus Professor of Finance, The University of Melbourne
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Senior Lecturer, Faculty of Law, University of Wollongong
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Professor of Law (consumer protections and credit law), The University of Melbourne
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Scientia Professor of Economics, UNSW
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Associate Professor of Finance, UNSW
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Lecturer in Politics, The University of Melbourne
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Lecturer in Corporations Law and Regulation of Corporate Misconduct, The University of Queensland
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Honorary Associate, Faculty of Business, School of Management, University of Technology Sydney
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Vice-Chancellor and President, University of Canberra
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Industry Adjunct, Adelaide University
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Executive Director @ Australian Institute of Performance Sciences, Strategic Partner @ Swinburne University MedTechVic, and Visiting Fellow at the Institute of Public Policy and Governance at, University of Technology Sydney