Greedy banks and inept regulators but not much more

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It began so well. The banks were lashed as greedy institutions focussed on gouging the living – and the dead – and anything else they could squeeze a dollar out of in the pursuit of targets and bonuses.

  • Adele Ferguson
  • Brisbane Times

It then went on to the regulators, in particular the corporate regulator, which it eviscerated for its lack of teeth and inability to do its job and enforce the law.

Shay 3cThe Australian Securities & Investments Commission (ASIC) was shown to be afraid of taking legal action, afraid to use the powers it has and allowing the wrongdoers off with an apology, “a drawn out remediation program” and a…

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