Will the Royal Commission be a complete fizzer?
Lindsay Davis argues that the Banking commission is worthless without alleged victims.
and "While illegal misconduct by mortgage lenders appears systemic, what is even more concerning is that our financial regulators, such as the Australian Prudential Regulation Authority (Apra) and Australian Securities and Investment Commission (Asic) who are supposed to protect society from financial misconduct, appear to be caught up in what is described as “regulatory capture”.
This is the situation that occurs when a government’s regulatory agency ends up advancing the political or commercial concerns of the very people, companies or entities it is supposed to be regulating."
A grim situation.
Can Choice help?