Big Four Banks-We should be glad the banks are speaking up

Already a subscriber?There was an inkling last week that the confidence of banking executives is starting to re-assert, with key staff appearing atand calling directly on the Albanese government to get on with economic reform.

bankers, their default position on everything has been to apologise, call a review, then apologise again.former CEO of the Commonwealth Bank, But since the Global Financial Crisis, this trigger was rarely, if ever, pulled. Bankers were humiliated with bailouts and liability guarantees, the titans of Wall Street morphed from rugged individualism to be seen as cap-in-hand beggars at the feet of working-class taxpayers. Even though the GFC was caused as much by short-sighted government interventions aimed at widening home ownership, bankers in the US and around the world wore the reputational stain.

This all culminated in an independent prudential review of the CBA and the Hayne royal commission. The latter undermined a generation of middle-to-upper management executives. Hundreds lost their jobs and reputations, and the talking heads at the banks have cowered ever since.The bankers who spoke out are worth hearing, partly because they have decades of business experience but, more importantly, to avoid a political blowback, they will only say things which are patently true.

Source: Financial Digest (financialdigest.net)

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Big four banks, energy giants weigh down ASXEnergy companies and the big four banks weighed down the ASX despite a positive lead from Wall Street overnight.
Source: smh - 🏆 6. / 80 Read more »

Big four banks, energy giants weigh down ASXEnergy companies and the big four banks weighed down the ASX despite a positive lead from Wall Street overnight.
Source: theage - 🏆 8. / 77 Read more »

Big four banks, energy giants weigh down ASXEnergy companies and the big four banks weighed down the ASX despite a positive lead from Wall Street overnight.
Source: brisbanetimes - 🏆 13. / 67 Read more »

Five years after the royal commission, big banks have their mojo backBut the newfound assertiveness isn’t simply due to the fading of past humiliations. They are increasingly conscious their large size is now a huge asset.
Source: FinancialReview - 🏆 2. / 90 Read more »

ANZ, CBA, WBC, NAB shares: Big banks taking 20 days to discharge a mortgageThe ACCC’s push to shrink the time it takes to discharge a mortgage from one big bank to another has failed to yield any gains for borrowers.
Source: FinancialReview - 🏆 2. / 90 Read more »

When it comes to how we pay, Apple is coming for the big banksCommonwealth Bank boss Matt Comyn says policymakers are sleepwalking into disaster by ceding important industries to global tech platforms with little scrutiny.
Source: FinancialReview - 🏆 2. / 90 Read more »