John Richardson writes: Re. "How can ASIC police the banks when it has been gutted?", yesterday. Scott Morrison, Josh Frydenberg and Peter Dutton weren’t the only members of Tony Turnbull’s disaster-management team on hand this past week trying to explain-away the racketeering that has become a feature of Australia’s banking sector in recent years. Up front and ugly was another of the coalition’s usual suspects, leading baby-faced Liberal head-kicker & knuckle-dragger Steve Ciobo.

According to Steve’s well-rehearsed spiel: