Murray tackles ‘too big to fail’, but are we increasing the risk of failure?
Bernard Keane and Glenn Dyer|
Jul 16, 2014 12:53PM |EMAIL|PRINT
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