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Murray tackles ‘too big to fail’, but are we increasing the risk of failure?

The Murray financial services inquiry recognises we have an issue with “too big to fail” banks — while noting we are increasing the chances of failure through our love affair with property. Bernard Keane and Glenn Dyer write.

When a financial services inquiry was first proposed by Joe Hockey — borrowing from an eclectic group of economists — in 2010, the banking environment was somewhat different. The banking cartel had been lifting interest rates above the RBA’s rises for a year, although few people understood that that merely meant the RBA would be slower to lift official rates

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