Government and banks hope royal commission storm will blow over
http://cecaust.com.au/releases/2018_05_01_RC_Storm.html
Behind their public admissions that it was a mistake to oppose the Financial Services Royal Commission,
the banks and their political stooges are already strategising how to ride out the storm.
Specifically, how to resist pressure to break up the banks.
Talk is cheap,
so don’t be fooled by Turnbull’s, Morrison’s and O’Dwyer’s public apologies
and vows to crack down on banking crimes.
You will see their intent in their actions,
and the real test will be how they respond to the CEC’s Australian Glass-Steagall legislation,
the Banking System Reform (Separation of Banks) Bill 2018,
which Bob Katter will introduce in Parliament as a private member’s bill.
The royal commission has everyone talking about breaking up the banks,
as it is the only way to stop banks from “advising”—actually luring—
depositors into financial investment products created by the banks themselves