Gone are the days of the highly respected bank manager as a pillar of society, which was the case when I was a low (and lowly-paid) 'Bank Johnny'. These days a 'bank manager' is little more than a commission-paid salesman who works alongside the bank's so-called 'financial planners' who, despite their impressive-sounding title, may well have been second-hand car salesmen in their previous jobs.
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, now under way, makes for gripping viewing of the unscrupulous behaviour perpetrated not by rogue traders and individuals but by whole organisations. I’m watching it for hours, not knowing whether to laugh or cry. They should sell the movie rights.
It has everything: the forensic analysis and youthful confidence of bright QCs like Senior Counsel Assisting Michael Hodge QC working for the grumpy Commissioner Kenneth Hayne AC QC; the hapless and bemused witnesses hung out to dry by their superiors; and a script of lies, deceit and incompetence - click here. (Transcripts, click here. Commentary, click here.)
John le Carré couldn't have made it up.
