Bank gloomsters are from Mars

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The Australian today offers an interesting debate among some insiders on the underpinnings for a new Wallis Inquiry. It actually turns out to be quite interesting thanks to Adam Creichton who delivers some home truths about moral hazard and inflated asset prices. The others, of course, react like he’s from Mars, which is worth the price of entry alone. Enjoy! (And BTW, well done to The OZ for embedding its videos. Something the wider media is yet to learn.)

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.