Banking Royal Commission

Discussion in 'Four Corners' started by The Vaulting Violinist, Feb 13, 2018.

  1. Parra

    Parra Coach

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    And they have APRA accreditation issued and overseen by a govt dept
    And the oversight of ASIC which is another well funded govt dept
     
  2. cerberus

    cerberus First Grade

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    i heard a union member was guilty of J walking yesterday too.
    ffs can't dumb and dumber do any better
     
  3. magpie4ever

    magpie4ever First Grade

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    You will need to be a superb dishwasher whilst Shirl the cook does his thing (and that is post on websites - the lazy f**king chef) but don't dare be a union member.
     
  4. magpie4ever

    magpie4ever First Grade

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    Yeah, good reason to abandoning this RC.
     
  5. Parra

    Parra Coach

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    That bird has flown.

    All that's left to do is to pour more cash into to these inept organisations. Fans of wasting public money will no doubt be delighted and believe they have actually done something.

    Believing you have "done something" is very important to some people.
     
  6. magpie4ever

    magpie4ever First Grade

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    Or maybe enacting legislation to see these slimy bastards go to jail for their actions.
     
  7. Parra

    Parra Coach

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    How the f**k are you going to introduce legislation to then jail people?

    It's the other way around. Either people have committed crimes worthy of a jail sentence or they have not. Writing new laws won't see people being jailed.

    I haven't heard any whinging from people who got housing loans with less scrutiny than there used to be. Or anyone whose self-funded retirement scheme is booming. We will just have to wait until people can't get loans, or they are forced to go to formal super funds as the rules tighten. Then people can be outraged at those new injustices.

    This focus on the retail product end of banking seems to be small potatoes in the overall size of the industry.

    It clearly has fans though.
     
  8. Mr Spock!

    Mr Spock! Coach

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    See Iceland......

    Iceland has jailed 26 bankers, why won't we?
    https://www.independent.co.uk/voices/iceland-has-jailed-26-bankers-why-wont-we-a6735411.html

    Because it'll upset Parra and the shareholders.....
     
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  9. Parra

    Parra Coach

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  10. Surely

    Surely Moderator Staff Member

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    Imagine that , members of the fsu fleecing workers.

    You’d be a member of the fsu wouldn’t you ?
     
  11. Lynoman

    Lynoman Bench

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    Oh look. Another rightard who wants to divert from the actual topic of the thread, the misconduct of financial institutions.....
     
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  12. 2_Smoking_Guns

    2_Smoking_Guns First Grade

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    Was the FSU investigated in the Union Royal Commission Shirls? Has there been any suggestion in this one that it is related to Union officials?
     
  13. Cletus

    Cletus First Grade

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    Out of all the things that outraged at the RC this one is what will effect retirees and taxpoayers most. The banks just aren't acting in the interests of their clients and they clearly need to be compelled to. You and I could get more than 0.5% interest on your money, these guys are supposed to be experts and all they do is hand it over to the bank that controls their super fund so they can shaft people. It's a joke and they need to re-introduce the regulations that Abbott got rid of when he first came to power.




    http://www.news.com.au/finance/supe...f/news-story/f6822708a328725a260d50bc0595101f
     
  14. The Vaulting Violinist

    The Vaulting Violinist Juniors

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    Absolute disgrace
     
  15. The Vaulting Violinist

    The Vaulting Violinist Juniors

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    Highly unlikely. Unions are seen as pests, most of their base in Bank’s are lowly paid punters. More well to do types go straight to their lawyers and generally win
     
  16. Captain Apollo

    Captain Apollo First Grade

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    Well funded? ASIC?! :rolleyes: You have got to be kidding! ASIC has had its funding cut drastically since Tony Abbott came to office as Prime Minister (source:https://www.2gb.com/former-pm-tony-...t-says-regulators-appear-asleep-at-the-wheel/) and even now the Government are proposing in this year's budget to slash it's funding by a further $26 million (Source: https://www.smh.com.au/politics/fed...hit-with-26m-funding-cut-20180510-p4zegn.html)

    That said funding alone is not the only cause of the problems. The people appointed to head ASAIC and ARPA were pretty much all from a baking background, and all went with a "conciliatory" approach to regulation, trying to get the banks to self regulate. AS has been shown this has failed miserably as all the baks just look at both ARPA and ASIC as toothless tigers and go about doing whatever the hell they wanted with no one stopping them.
     
  17. Parra

    Parra Coach

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    Exactly. Why the f**k would you throw good money after bad?

    You question funding levels for ASIC and then go on to show why they are no good. And the reasons have nothing to do with funding.
     
  18. Mr Spock!

    Mr Spock! Coach

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    Yep the ol self fulfilling prophecy.

    Gut the regulator...oh shit it isnt working...

    Better gut it some more.
     
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  19. Parra

    Parra Coach

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    More like spend hundreds of millions.

    Isn't working. Throw more cash at it. Out of ideas.

    When to you think the problems mentioned at the RC started?
     
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  20. Mr Spock!

    Mr Spock! Coach

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    Cutting its budget wont solve anything.

    Getting the right people in charge will.

    Eg "If the Treasurer wants to beef up ASIC, perhaps he should think about appointing an experienced investigator to head up the organisation instead of the endless procession of bean-counters, investment bankers and corporate lawyers who have sat at the chief's desk."

    https://www.google.com.au/amp/amp.abc.net.au/article/9685792
     

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