Breaking the big four’s bad habits

The big four are desperate to head off further regulation that could flow from the Murray Inquiry. If they succeed, it will be at the tax payer's expense.

Australia’s major banks are getting desperate. The Murray Inquiry threatens to corral their dodgy lending practices and misleading accounting, prompting a last ditch effort by senior management to convince members of the inquiry that additional regulation is not required.

We shouldn’t sugar-coat the situation: the Murray Inquiry poses a serious threat to the business model of Australia’s big four banks. That might sound dire, but don’t be fooled, this is a business model that should be threatened.

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