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1.Market Observations, 2.financial advice

5 May 2018 (AFR) – Hayne royal Commission and the banking crisis: insiders reveal when the rot set in

(5 May 2018, AFR, p15, by Karen Maley)

‘It’s been a torrid few weeks for the country’s big four banks. Not only have they had to endure the daily humiliation of having their misdeeds paraded before a disbelieving and horrified public by the Hayne royal commission, there’s also been a scathing official report on the culture of the country’s largest lender. The big banks are in “more trouble now than they were in the financial crisis” when global financial markets froze over and lenders scrambled to find funding, according to Future Fund chairman Peter Costello.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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