EDITORS' PICKS

Our commentators have saved some of their best for last. Click here to go inside the Centro deal, find out how CBA's capital raising descended into chaos and examine what went wrong with NAB's succession plan.

The bank that ate America
Alan Kohler
More startling than last week's rate cut is the fact that the Fed is now one of the most important commercial banks of all time – by necessity and virtually by default, it is nationalising the US banking system.

Power at any price
Robert Gottliebsen
Victoria's Latrobe Valley coal-fired power stations look doomed to end up in the hands of banks. If this happens, the banks will have little option but to recoup losses by substantially raising energy prices.

A brilliant performance
Giles Parkinson
The fossil fuel lobby has done a great job of looking suitably distressed by the carbon reduction targets. The reality is that handouts to industry will leave some of our biggest emitters with increased net profits.

NAB's Fahour fizzer
Tony Boyd
The decision by Cameron Clyne to keep Ahmed Fahour on as an executive director ignores accepted practice in management circles and creates more work for the bank's new boss.

60 minutes of madness
Alan Kohler
The Commonwealth Bank share placement fiasco highlights the inadequacies of a process where investors are forced to make decisions about billions of dollars in around one hour. It's time the system was overhauled.

Sealing the Centro deal
Robert Gottliebsen
The last-minute rescue package cobbled together for Centro stretched the working relationships between Australia's biggest banks to breaking point.