Bank royal commission imminent as The Idiot says no

Advertisement

Via The Australian comes The Idiot:

Maverick LNP MP George Christensen yesterday said he remained committed to crossing the floor on a banking inquiry, but will not do so before Barnaby Joyce’s December 2 by-election.

Queensland Nationals senator Barry O’Sullivan has also indicated that as many four Coalition MPs, including Mr Christensen, could provide the votes necessary for a commission of inquiry into misconduct in the banking sector, and as many as ten Coalition senators could use the precedent WA Liberal senator Dean Smith’s same-sex marriage bill to support legislation in the Upper House.

Mr Turnbull said the government’s position had not changed.

“No, we’re not having a banking royal commission,” the Prime Minister told the Nine Network.

“We’ve obviously looked at the banking sector and we can see that the mistakes that have been made, the bad practices that have occurred, the mistreatment of customers an what we are doing is taking action right now.

“We are establishing a one-stop shop so people can get their complaints resolved.”

With The Idiot shooting it down it is now both imminent and certain.

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.