Is Bill Shorten a populist with a thought bubble, or is Malcolm Turnbull shooting from the hip and attempting to defend the indefensible?

Last year in June Labor voted with the government to kill a Greens motion for a royal commission into misconduct in the banking and financial services industry. As Adele Ferguson said in the AFR, then came NAB, IOOF, CommInsure, allegations of bank bill swap rate rigging and a multitude of smaller scandals.

Labor announced last Friday that in government it would set up a royal commission.

The government claims a RC would damage the reputation of the banks, but Ferguson says it couldn’t get any worse. Continue reading Banks royal commission becomes an election issue →