You are viewing:-
you're reading...
1.Market Observations, 8.Was Sticky

29 Sept 2018 (AFR) – Hayne strikes down greedy banks and feeble regulators

(29 September 2018, AFR, p1, by: James Frost, Phillip Coorey)

‘Regulators are in for a major shake-up after royal commissioner Kenneth Hayne found the culture of greed permeating the financial services sector was a result of a failure to follow and enforce existing rules, and that more regulation was not the answer. The commissioner’s interim report castigated the nation’s banks for repeatedly and systematically crossing the line in the pursuit of profits in a scorching assessment of our financial system and its key players. “The banks have gone to the edge of what is permitted, and too often beyond that limit, in pursuit of profit,” the report, which was released yesterday, said.’

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

Advertisements

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Advertisements
%d bloggers like this: