21 November

I think there’s a broader message to come out of the banking Royal commission. Management and governance, of every organisation, is broken. The ideas we use to manage and govern organisations are absolutely bloody useless. The same problems recur, and nobody looks at the dumb ideas which are the real cause. Ideas that shonks hide behind, like David Turner (picture), the previous Chairman of the CAB, who pocketed almost $900,000 ‘fees’ per year as chairman at a time the bank was engaging in known corrupt conduct. This stuff is rampant, senior executives being paid outrageous amounts of money, Directors sitting on dozens of boards and pocketing big Director’s fees, all with no connection at all to actual performance of organisations. People hate politicians. Politicians are angels compared to what goes on in management and governance of our organisations. And they get paid a LOT less than these criminals, and have a lot more responsibility and accountability.