4 October

Watching bank CEOs being interviewed here in Oz brings to mind Wells Fargo. One of the biggest banks in America. In an attempt to improve their numbers they ordered employees to open millions of fake accounts for actual customers. The response of the bank management when this was exposed? Sack 5300 staff, for being dishonest. Not one senior executive was sacked or lost one penny of their enormous bonuses. Now the regulators are into them, as they should be here. All financial crises involve banks. Always, in history. They crippled the Oz economy in the 1980s and we haven't learned a single bloody thing. Arseholes.