Royal Commission must investigate deeper to clean the bank’s dirty water if public trust and confidence is ever to return

How can you get clean laundry using dirty water?

Whistleblower Jeff Morris says while the process [Royal Commission] has been worthwhile it has only “scratched the surface”.

“Having been inside the banks, it is a very sycophantic world where nobody contradicts the corporate speak and everyone drinks from the same water fountain,” he said.

Mr Morris said the royal commission had uncovered more than most of the people who called for it expected, but nothing had surprised him.

“I would have to say that I am disappointed that it has still not grappled with either the depth or the breadth of misconduct in the banking sector,” Mr Morris said.

“The banks are still taking the line that there was nothing intentional in their actions and it is just the result of a succession of unfortunate events and accidents. It doesn’t happen as a result of mistakes; there had to be some intent behind it.”

What appears to be still going on with banks is something rotten with this sentiment being echoed by another unidentified man at the commission on its final day of public hearings. The following is what was heard from the 11 second mark:
 
“Commissioner Hayne what about the complaint system? Why has that not been reviewed?
 
This is just as corrupt as many other areas in this industry. It has not been reviewed. It’s been passed over.
 
Is this a function or result of this government under-funding and under-resourcing this Commission by a corrupt Prime Minister who did not want this process to happen?
 
Just corrupt. Rotten. Absolutely rotten. And you unfortunately – the good work you people have done will not be recognised. I’m telling you. It’s rotten…”
 

 

Many say the banks still have the intent to deceive and swindle the public unless the commission goes deeper. Failing this, an aware public will withdraw from using banks altogether.

$75 million for a year long commission is insignificant to the billions made from misconduct.

Sources:
http://webstreaming.lawinorder.com.au/fsrc
https://www.smh.com.au/business/banking-and-finance/it-was-worth-it-victims-who-fronted-royal-commission-give-their-verdict-20181129-p50j3v.html

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