The government and the regulator has tip toe'd around the banks for years. Will they now find a real hammer or just another rubber one that bounced every time it was used.

Australian Government who was forced into having a Royal Commission should be ashamed of past performance on banking sector

The Conversation 

By Michelle Grattan

Updated 20 Apr 2018, 10:22am

PHOTO: The Government needs the issue squared away before the election. (Flickr: CC By-SA)

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If you are a politician, what do you do when your bad judgement — or worse — has been dramatically called out for all to see and you have an election coming up.

Will they pass the buck and blame the regulator who has asked for more powers for years and been starved of funds by this government.

That's the question which has faced the Government as appalling behaviour by the Commonwealth Bank, AMP and Westpac has been revealed this week at the royal commission into misconduct in the banking, superannuation and financial services industry.