The Royal Commission is the biggest load of hogwash ever...

The Royal Commission is the biggest load of hogwash ever produced.

They blame the banks for everything. The only aspect that had credit was any criminal activity conducted by individuals and the charging of services while dead (least the ones that have been publicly spoken about).

Does the government forget that the banks are businesses?

Things like lending above what a person can borrow. Just an FYI, I borrowed to pay for a house, I actively borrowed as least as possible knowing full well that the more debt I take on the more my repayments will be and potentially the longer the life of the loan. It also only takes a basic IQ level to realise the higher the leverage the greater the potential profit or loss. So one would think you would say, well if I borrow say for example $1M if the market goes south I could lose $200k vs if I only borrow $500k I might only lose $100k....

Why should a business that is trying to make money limit what it can lend? Have we come that far that a bank is responsible if a lender borrows beyond their means? Are we also now going to go through all of people credit cards and blame the banks for peoples ludicrous spending habits? If a greasy car salesman says hey you can get that $20,000 or you can buy this $40,000 on finance is that not the same principle? RC time for car market I think, or insurance, or phones for that matter, hell why not even chuck in Macdonalds too you know because they say would you like fries with that?

Incorrect valuations of property, overstated too much. Would the government like to try and value things. Its not an easy job..... After all its what someone is prepared to pay for something that a value is trying to do, when the market is as it is, its a lot harder to value assets than sit being a desk and prepare a report....