Tornado Alley (PROG)

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Royal commission into banking: The inquiry that could kill the Government

By business editor Ian Verrender

Updated Mon at 7:56pm

http://www.abc.net.au/news/2017-11-27/how-bad-are-our-banks/9194984

Yep, it's Australia. The USA gets a mention in there, and you will see other parallels.

Turnbull and the banks have poo-pooed the call for a royal commission for months. Until

Malcolm Turnbull backflips on banking royal commission after big four call for inquiry to restore public faith
By political reporter Lucy Sweeney and political correspondent
Louise Yaxley
Updated 22 minutes ago
http://www.abc.net.au/news/2017-11-30/banking-royal-commission-announced-by-pm-after-big-four-letter/9209926

How the Commonwealth Bank laid the groundwork for a royal commission

By business editor Ian Verrender
Updated 7 Aug 2017, 6:07pm

Where do you start?

A total clean-out of the board and management of the Commonwealth Bank, a complete rethink of the role of our financial
institutions, or a subjective investigation on the impact of new technology and whether it can replace human involvement?

There is no way to understate the extent of the latest allegations against the Commonwealth Bank of Australia; ignoring money laundering for drug syndicates, turning
a blind eye to terrorism financing and abjectly ignoring statutory reporting responsibilities for more than three years on three quarters of a million accounts.

This is a deeply disturbing failure on an epic scale, one with the capacity to undermine national security.
http://www.abc.net.au/news/2017-08-07/commonwealth-bank-laid-the-groundwork-for-royal-commission/8779598