ACTU: Henry, banks, Scummo colluded to shape Hayne

Is this why Justice Kenneth Hayne was so disgusted at the handover of his report? Via Sally McManus on Twitter:

What on earth happened to the once lovable Ken Henry?


  1. Relevant StakeholderMEMBER

    Yeah journalism is dead, wonder how many papers they shopped this to before deciding to go direct.

    More of this to come I suspect.

    • He would have been fully aware that Henry and co, in cahoots with the government, nobbled the TOR. This, (which btw also puts Henry’s shocking performance in the stand in a different light) is probably why Hayne named Henry as a stand out belligerent. After all, there are plenty other examples of major banks failing to act after repeated breaches. Sadly for Hayne, he was left with but one weapon to go after the man – the firm but measured language in the report from a stillborn RC.

      • Mining BoganMEMBER

        You’d have thought that Henry would have enough nous to realise this would eventually come out so why perform like a tosser at the RC? The arrogance is mind boggling.

      • I think Hayne has written a great report. People wanted him to say things that were outside either TOR or outside reasonable conclusions based on the evidence. Take the HEM for example, Hayne cannot conclude / recommend that HEM cannot be used but he made it almost impossible or pointless to use other than disqualification from lending. I just think he has done a great job but you are not reading it like a lawyer would.

      • @tonydd – agreed. Hayne has very smartly offered up plenty of fodder outside the TOR for future inquiries or civil class actions should the banks stray wildly from their self-imposed credit squeeze. HEM is effectively dead and buried.

    • He should have been smart enough to know an RC is always just a show to distract the public while not actually doing anything of significance.
      Collusion to influence the outcome of the RC. whocoodanode lol.

      • The Royal Commission into child sexual abuse was NOT a distraction. Done properly they are very powerful. In this case the powerful nobbled the RC.

      • The naivety is great Gramus.
        “The Parenting Research Centre (PRC) was commissioned to evaluate the extent to which 288 recommendations from 67 inquiries selected by the Royal Commission had been implemented, and the possible factors that determined, contributed to, or were barriers to successful implementation.”

        And a list of previous government enquiries a mile long, and on an issue with 100% public support and it’s still not resolved in any meaningful way.
        Adding another enquiry to the end of the long list below achieved not much of anything.

        List of inquiries from which recommendations were selected
        ACT: The rights, interests and well-being of children and young people, Report Number 3, Standing Committee on Community Services and Social Equity, August 2003
        ACT: The Territory as Parent, Review of the Safety of Children in Care in the ACT and of ACT Child Protection Management, 14 May 2004
        ACT: The Territory’s Children, Ensuring safety and quality care for children and young people, Report on the Audit and Case Review, Gwenn Murray, July 2004
        Commonwealth: Bringing them home, National Inquiry into the Separation of Aboriginal and Torres Strait Islander Children from Their Families, 1997
        Commonwealth: ALRC Report 84: Seen and heard: priority for children in the legal process, 1997
        Commonwealth: Management response to allegations of paedophile activity within the Foreign Affairs portfolio: report to the Public Service Commissioner, Pamela O’Neil, May 1997
        Commonwealth: Welfare of Former British Child Migrants, House of Commons (UK), Health Committee Publications: Health – Third Report, 1998
        Commonwealth: Lost Innocents: Righting the Record – Report on child migration (2001)
        Commonwealth: Inquiry into Immigration Detention Procedures (Flood Inquiry), 2001
        Commonwealth: Complaint by a young person (under the age of 18) of an incident involving unacceptable behaviour at a Navy training establishment in mid–1996 (2004)
        Commonwealth: Forgotten Australians: A Report on Australians who experienced institutional or out-of-home care as children (2005)
        Commonwealth: Australian Defence Force: Management of Service Personnel under the age of 18 years (2005)
        Commonwealth: Protecting Vulnerable Children – A National Challenge, second report of the inquiry into children in institutional or out-of-home care (2005)
        Commonwealth: Uniform Evidence Law Report: ALRC Report 102; NSWLRC Report 112; VLRC Final Report – December 2005, Australian Government Law Reform Commission; NSW Law Reform Commission and Victorian Law Reform Commission
        Commonwealth: Lost Innocents and Forgotten Australians Revisited (2009)
        Commonwealth: ALRC Report 114, NSWLRC Report 128: Family Violence: A National Legal Response (2010)
        Commonwealth: 2011 Immigration detention at Villawood. Summary of observations from visit to immigration detention facilities at Villawood (Australian Human Rights Commission)
        Commonwealth: Report on the Review into the Treatment of Woman in the Australian Defence Force Academy – Phase 1, October 2011, Australian Human Rights Commission

        Commonwealth: Report of the Review of allegations of sexual and other abuse in Defence Facing the problems of the past: Volume 1 − General findings and recommendations, Rumble; McKean & Pearce, October 2011 (prepared for the Department of Defence)
        Commonwealth: Disability Care and Support: Productivity Commission Inquiry Report Volume 1, No. 54, 31 July 2011, Australian Government Productivity Commission
        Commonwealth: Report on the Review into the Treatment of Woman in the Australian Defence Force: Phase 2 Report − 2012, Australian Human Rights Commission
        NSW: The Hon Justice JRT Wood Royal Commission into the New South Wales Police Service: Final Report − Volume V: The Paedophile Inquiry (1997)
        NSW: NSW Ombudsman − Handling of Child Abuse Allegations Against Employees (May, 2000)

        NSW: Review of the Child Protection Register Report under s25(1) of the Child Protection
        (Offenders Registration) Act 2000 (CP Register Review) (2005)

        NSW: NSW Joint Investigative Response Team (JIRT) Review, November 2006 (NSW Health; NSW
        Police & NSW Department of Community Services)

        NSW: Special Commission of Inquiry into Child Protection Services in NSW (Wood Inquiry) (2008)

        NSW: NSW Ombudsman (December 2010) Improving probity standards for funded organisations

        NSW: NSW Ombudsman Report – The need to better support children and young people in
        statutory care who have been victims of violent crime (June, 2010)

        NSW: NSW Ombudsman Report − Responding to Child Sexual Assault in Aboriginal Communities

        NSW: Prevention of abuse and safeguarding mechanisms in Ageing Disability and Home Care (21
        January 2013)

        NT: Report on the Law Relating to the Investigation and Prosecution of Sexual Assault in the
        Northern Territory, Northern Territory Law Reform Committee (1999)

        NT: Ampe Akelyernemane Meke Mekarle Little Children are Sacred (2007)

        NT: Growing them strong, together: promoting the safety and wellbeing of the Northern
        Α͋ιιΊχΪιϴ͛ν ·ΊΜ͇ι͋Σ (2010)
        NT: A Life Long Shadow. Report of a partial investigation of the child protection authority (2011)
        NT: Department of Justice (2011) Report: Review of Vulnerable Witness Legislation
        Qld: Briton, J., Gordon, P., Parker, S., & Airo-Farulla, G. (1999). Review of the Queensland Children’s Commissioner and Children’s Services Appeals Tribunals Act 1996: Report and Recommendations.
        Qld: Project AXIS (Volume 2) Child Sexual Abuse in Queensland: Responses to the Problem (November 2000)

        Qld: Seeking Justice: an inquiry into how sexual offences are handled by the Queensland Criminal Justice system (June 2003)
        Qld: Inquiry into Abuse of Children in Foster Care − Protecting children: An Inquiry into Abuse of Children in Foster Care (2004)
        Qld: Queensland Child Protection of Inquiry − Taking Responsibility: A Roadmap for Queensland Child Protection − June 2013, Queensland Child Protection of Inquiry
        SA: Review of Child Protection in South Australia (Layton review) (2002)
        SA: Report of the Joint Committee on Immunity from Prosecution for Certain Sexual Offences: Second Session, Fiftieth Parliament 2002−2003, Parliament of South Australia (28 May 2003, Hon. G.E. Gago, Chairperson) (2003)
        SA: Children in State Care Commission of Inquiry: Allegations of Sexual Abuse and Death from Criminal Conduct (Mullighan Inquiry) (2008)
        SA: Children on Anangu Pitjantjatjara Yankunytjatjara (APA) lands Commission of Inquiry (Mullighan Inquiry) (2008)
        Tas: Memorandum of Advice to Minister of Health and Human Services: Part Two: Complaints Process for Abuse of Children in Care (Patmalar Ambikapathy, Commissioner for Children Tasmania, September 2003)
        Tas: Review of Claims of Abuse from Adults in State Care as Children (O’Grady Report) (2004)
        Tas: Who is listening to the children now: the Commissioner for Children͛ν ι͋νζΪΣν͋ χΪ ι͋̽Ϊ΢΢͋Σ͇̯χΊΪΣν 8 ̯Σ͇ 9 Ϊ͕ χ·͋ Α̯ν΢̯ΣΊ̯Σ ͸΢̼Ϣ͇ν΢̯Σ͛ν ι͋ζΪιχ/Ϊ΢΢ΊννΊΪΣ͋ι ͕Ϊι ·ΊΜ͇ι͋Σ 2006.

        Tas: Report on Child Protection Services in Tasmania (Jacob-Fanning Report) (2006)

        Tas: Inquiry into the circumstances of a 12 year old child under Guardianship of the Secretary
        (Mason Report) (2010)

        Tas: Select Committee on Child Protection Final Report, Parliament of Tasmania (2011)

        Vic: Parliamentary Crime Prevention Committee Inquiry into Sexual Offences Against Children
        and Adults (1995)

        Vic: Victorian Auditors General’s ͸͕͕Ί̽͋ (Π!G͸) (1996)΅ ΄ιΪχ͋̽χΊΣͽ ΠΊ̽χΪιΊ̯͛ν ·ΊΜ͇ι͋Σ΄ Α·͋ ·ΪΜ͋ Ϊ͕
        the Department of Human Services (special Report 43)

        Vic: Victorian Law Reform Commission: Sexual Offences Final Report (2004)

        Vic: Ombudsman Victoria: Improving responses to allegations involving sexual assault (2006)

        Vic: Ombudsman Victoria: Own Motion Investigation into the Department of Human Services
        Child Protection Program (2009)

        Vic: Ombudsman Victoria: Whistleblowers Protection Act 2001: Investigation into the failure of
        agencies to manage registered sex offenders (2011)


        Vic: Sexual Assault Reform Strategy: Final Evaluation Report, prepared for Department of Justice, January 2011
        Vic: Victorian Law Reform Commission (2011) Sex offenders registration − Final Report
        Vic: ΄ιΪχ͋̽χΊΣͽ ΠΊ̽χΪιΊ̯͛ν ΠϢΜΣ͋ι̯̼Μ͋ ·ΊΜ͇ι͋Σ ͜ΣθϢΊιϴ (Ϣ΢΢ΊΣν ΊΣθϢΊιϴ) (2012)
        WA: Western Australia Case Review Board, The Duty of Care Inquiry, An Examination of the Case Decisions in Relation to Two Children Placed Under the Control of the Department, 1993
        WA: Putting the picture together: Inquiry into Response by Government Agencies to Complaints of Family Violence and Child Abuse in Aboriginal Communities (Gordon Inquiry) 2002
        WA: Dr Marie Harries and Associate Professor Mike Clare, Mandatory Reporting of Child Abuse: Evidence and Options, Report for the Western Australian Child Protection Council, Discipline of Social Work & Social Policy, University of Western Australia, 2002
        WA: Gwen Murray, A duty of care to children and young people in Western Australia: Report on the quality assurance and review of substantiated allegations of abuse in care − 1 April 2004 to 12 September 2005
        WA: Report on Allegations Concerning the Treatment of Children and Young People in Residential Care, Ombudsman Western Australia (2006)
        WA: Review of the Department of Community Development (Ford Review) (2007)
        WA: Community Development and Justice Standing Committee, Inquiry into the Prosecution of Assaults and Sexual Offences, Report No.6 in the 37th Parliament, 2008
        WA: Children, A Special Inquiry into the response of government agencies and officials to allegations of sexual abuse (2012)

    • Spot on. He has to carry this with him after 30+ years of a great career. 12 months is all it took. On the flip side he’ll be now handsomely rewarded with any number of other future opportunities. He’s a man of impeccable integrity who got into bed with a pack of dogs. He’ll need a decent flea wash.

    • What does Scott stand for; not the people, that’s for sure. And Ken, who I thought was great as K Rudd’s man, but he’s been shown to be the worst of the worst. Let’s not forget Anna in all of this and it really shows how the major parties are all on the same page smashing us. They all keep their jobs and nothing ever changes. We just know where we stand. No wonder Ken Hayne singled out the NAB. This is Fing outrageous.

      • clearly self evident now to all that our public service, along with the main political parties, is infested with non representative self serving filth. and the public service filth cant be voted out.

  2. This is why we don’t ask crims to write the laws that govern their own behaviour. Oh hang on, we do that too! Federal ICAC please.

    • SupernovaMEMBER

      Excellent solution….and when a federal ICAC is finally produced, it’s important to make some of it’s powers retrospective.

    • If we are to have a Federal ICAC it must be setup and run by the judiciary, no politicians or beaurocrats should be allowed within a bulls roar of it’s inception. They are not to be trusted.
      After all it is to oversee their behaviour.

  3. I think the important issue being missed here is the criminal act of being in possession of private ministerial correspondence. I expect a royal commission to investigate this.

    • I think the important thing being missed here is that Sally was out of the house and reading, like some kind of feminazi

      • You know that there are are people who aren’t right wingers and aren’t conservatives who also aren’t feminists. And you know the reason feminists get called femininazis by some people is because pure undiluted feminism holds ‘men’ in a similar regard to the way nasis viewed Joos.

    • I think the important issue being missed here is that Sally wasn’t even holding a lump of coal. Unions are unaustralian

    • I think the important issue being missed here is that the ACTU legally requesting the release of these materials under freedom of information law shouldn’t distract us from the real evil of the unions, and more generally, working class people as a whole.

      • You trying to suggest unions get bashed but belong on a pedestal?

        Today’s too far left, pro population growth unions are a disgrace.

      • I think the important issue being missed here is that people like Rick have turned the Banks writing the terms of their own Royal Commission, and the disgusting corruption that it represents, into something about the Unions. No wonder Australia is so farked 😂

      • I think the important issue being missed here is that unions are everywhere and with their decision making ability at the operational level of business, are responsible for fees for no service, billing the dead, flogging off insurance to dead people, foreclosing on farms for fun, rigging financial benchmarks and all the rest. Damned unions

      • No. I’d love to see Morrison and the bankers fry. I’d also love to see big Australia Sally removed.

        I’m the one thinking.

        You’re the left wing goose epitomizing why Australia’s in such a mess.

      • I think the important issue being missed here is that we don’t apologise for blaming Sally McManus, the Unions, the Left, the geese, the strawmen or the Australian people. They have no right to be upset. None of them; especially the geese. The banks and Libs are only looking out for their own self-interest and that’s to be ignored, if not commended.

      • ErmingtonPlumbingMEMBER

        Thats a pretty farkin long bow ya pullin there “Rich”.

        Tell me this mate,… are you actually “Rich” or just one of those professionally educated, Working class Toadies who desperately hopes that if he can just suck up to the Wealthy enough, inculcate their prefered ideology enough that they might just accept you being around, despise you a little less,…maybe even like you,…a bit.

        As for immigration, your Right wing mates advocating for the wealthy want the Numbers jacked up Just as much as any far left group circle jerking over open boarders, proletarian internationalism.

        We are a Democratic Nation state that rather than becoming more “Left wing” is actually becoming more Plutocratic (Right wing).
        All the Intersectionality, Identity politics “socially progressive” schtick/hysteria being rolled out by a Fake left leadership, that has “made its peace with the establishment” isn’t Left at all!

        Being true “Left” in this country simply means demanding real Poor peopkes, Working and middle class peoples imput into economic decision making, proportional to their percentage of the population in our Democracy.
        Being in the majority, (in a real Democracy) this would put the Working Class in controll of Economic decision making,…but they are not,…the Bankers and other Plutocrats are.

        Do you think these Banking criminals would be getting left unprosecuted if the decision was left to the real Working class,…mmm?
        Im not talking about the bunch of privilaged fake left intellectuals who have illegitimately claimed leadership of the “Left” for them selves,…im asking
        If put to the People, would these guys be getting off Scott free.

      • Ermington

        No. I’m a life long union member, who’s watched the movement go from being pro worker to trying to save the world.

        Choose a battle. Save Australia’s workers or the world. They are mutually exclusive.

        One is achievable the other a stupid left wing ideology.

        I’m a long way from the right. As usual people assume I’m from the right because I call out the left and how they’re destroying Australia.

        I want equality. Population growth achieves the opposite.

      • Ermington

        Everything you write, everything you hate, all facilitated by the left embracing big Australia.

      • That’s the sort of fire the Labor party needs to survive EP. How the all the tradies and clerks got convinced that free markets are some magical machine to make them rich is the story of our age.

      • “that rather than becoming more “Left wing” is actually becoming more Plutocratic (Right wing)”

        Because the left have destroyed their narrative.

        Big Australia is a jungle. Everyone for themselves. Shaft your fellow Australians and get on the ladder. Shaft your mates to get better job.

        Big Australia has wrecked who we were.

      • Morgs

        We don’t need two big Australia parties. LNP as it always has will continue to have the rich greedy support.

        The best thing for Australia is for Labor to die and be replaced with a new party that reflects what 90% of Australians want.

        Back to a simple Australia. Stick globalization up their bits.

      • “Educate yourself mate”

        lol. I need to know two things.

        Labor the workers party wants a big Australia. Greens the environmental party wants a big Australia.

        The left are the morons giving the elites what they want, and I need to educate myself?

      • @Ermo
        “If put to the People, would these guys be getting off Scott free.”
        But that’s the whole point, representative democracy doesn’t and never will “put it to the people”. It concentrates power by design to the wealthy, or those easily controlled by the wealthy.

      • @rich
        “The best thing for Australia is for Labor to die and be replaced with a new party that reflects what 90% of Australians want.
        Back to a simple Australia. Stick globalization up their bits.”
        Won’t happen though, because running a political party of that size and reach costs $$$$$$, lots of $$$$$, that need to come from corporate donors. Political parties not serving the corporate $ end up like Sustainable Australia and the other minors.

      • btw

        It’s beyond sad. It’s not helped by people like Brenton and Ermington supporting a Labor party that along with LNP is destroying our country.

        Fix Australia. Wipe labor out.

      • I think the important thing being missed here is that Rich4 has most likely lied about being a union member in a vain and pathetic attempt to obfuscate being called out for trying to obfuscate the discussion about how the banks tried to rig the RC into the wholesale theft of money from ordinary Australians and the control fraud which facilitates it.

      • Also – if opposing corporate theft makes me left wing then I guess I am red and will be under your bed soon enough 😉

      • Absolutely Rich, Libs and Labs have failed us completely. And yes the left narrative is awful, it’s like shooting fish in a barrel for the neolibs and libertarian wanna-bes.

      • @lignje

        “Rich4 has most likely lied about being a union member in a vain and pathetic attempt to obfuscate being called out for trying to obfuscate the discussion about how the banks tried to rig the RC”

        Of course you think that. You’ve been scammed by the left. The best safest thing for you to do is dismiss me as a liar.

        You’re living in the past. Today’s left leaders are the elite along with the right.

        How else were they going to get their way than to convince the left to open Australia’s borders?

        Been a union member my whole life, I’ve voted Greens and Labor and have never voted LNP.

        What possible motive would I have to bang the same drum for twenty years?

      • @lignje

        “Also – if opposing corporate theft makes me left wing then I guess I am red and will be under your”

        Corporate theft can only occur on this scale via population growth.

        That’s why they’ve worked so hard to infiltrate the left. Today’s big Australia left are normal Australians worst nightmare.

      • pls explain how fees for no service happened because of immigrants
        Or farm foreclosure
        Or failing to act in best interest of super fund beneficiaries as a trustee coz that is how you make more money for the bank

        How is this coz of immigrants?

      • How is this coz of immigrants?

        In case you’re not familiar with rich42 Ric Rich4 from his previous incarnations, EVERYTHING is the fault of immigrants population.

        He is the ultimate personification of MB’s increasing monomania on immigration.

      • lignje

        What about the issues not covered by the RC because it was rigged?

        For example, house prices and excessive lending.

      • Hey Rich ( or JohnBB!) You really gotta remember that voting PHON as I think you do, it ends up back with LNP.

      • lol, probably for the best. I think I’ve flogged that horse enough for everyone… though lignje shares the blame (is responsible?)… or maybe it’s the unions fault 😅

      • I think the important issue being missed here is that the union Rich4 pretends to pay dues to are the cause of everything that is wrong in the country (including his bank account being depleted by union dues so he can’t pay for membership or meds or a happy ending at a vibrant massage parlour)

      • lignje

        Like I said, it’s safe for you to think that way.

        Most union members I know think the same way as me.

        Other than your own fear, I’ve given you zero reason to doubt I’m a fee paying member.

        Why not poll members?

      • lol the fake fellow members of the fake union have fake thoughts that align with what you’re paid to write? niiiiiiiiiiiiiice

        plagiarism is fun though, kind of like how you’re copying from the list of ‘talking points’ your paymasters have given you for the day’s trolling. at least you get paid in dollars – I desperately try for fake internet points, which is sad.

        and remember – the government wanted to throw up, as a major issue in the RC, union presence on industry super fund boards. because, rather than accepting director fees, the flicked them back to the union. you know those industry super funds? the best performing ones? the ones that outperform bank run and other retail super funds by a long, long way? because those bank-run funds are not run in the best interests of fund members – they pay much, much larger fees, which increase the profits of the banks that own them. remember that one?

        again – you have failed to articulate a coherent point about why immigration matters in a discussion about banks trying to, and somewhat succeeding in, limiting the terms of reference of the RC? any fulsome, honest and robust investigation into what these venal and corrupt cunts get up to each day would have recommended so much fucking jail time that gladys could give up on the new allianz stadium and boost infrastructure spending by constructing massive prisons to house all the pricks who broke laws every day to get paid a bonus. trust me, these guys are cheering.

    • TailorTrashMEMBER

      Wonder what the member NAB for was up to while all this correspondence was going on ….

    • AM, the correspondence was from a FOI request made by the ACTU. McManus said that at the start of the clip.

    • It is possible that at that moment of total absurdity, when Rudd and Swan distilled the entire tax review into a banal ‘super’ (lalalaaa) profits tax something in Henry broke. A little wombat died and he realised that there was no good or evil, only power and those too weak to seize it.

  4. I have been saying this all along. Hayne played his part beautifully but was never going to rock the boat.

    All things considered the RC was a good thing but it isn’t going to fix the problem. Only a crash will.

    • You are deluded thinking that crash is going to fix it either.

      Even if prices fall 50% or more, and we have 5 year long depression in 10 or 15 years we’ll have another bubble. Simply the system of neolib capitalist economy is only left to exploit few remaining fundamental sectors (housing, education, healthcare, utilities) before it dies.
      all but housing are tiny to provide enough fresh blood so …

  5. Does anybody remember when the wankers in the coalition wanted union members being appointed as directors of industry super funds to be one of the things that the RC looked at? Fucking criminal cunts.

  6. Financial advisers and mortgage brokers are the firewall around the banks. They are the fall guy.

    • +1000 Advisers and brokers provide a service which people value but are not prepared to pay for. This is why commissions exist and they are always fully disclosed – it’s the law.
      Legal tossers like Hayne don’t get this. In the meantime, they can charge thousands per day for basically finding the answer in some piece of legislation which has been deliberately arcanely worded. However, there’s never any scrutiny on their obscene remuneration practices because so many politicians are former lawyers.

      Also, Sally McManus can hardly talk. The Industry Super ownership structure essentially turns people’s super into a Labor Party slush fund. Yet this was ignored by Hayne.

      • Raw Deal Mortgage Broking

        “brokers provide a service which people value but are not prepared to pay for. This is why commissions exist and they are always fully disclosed – it’s the law”
        Too late to edit, so replying to clarify a bit more:

        brokers provide a service which people value but are not prepared to pay for. In economic terms, people being unwilling to pay for broking services is classified as a “market failure” and we should THANK the banks for being prepared to pay tens of thousands dollars of trailing commissions on each loan to rectify the market failure, and THANK the government for allowing it. It is a massive social service being performed by the government and the banks.

      • Can we get a cheaper deal going directly to the bank, or is it like credit cards at a shop where the cost is consequently paid for by all consumers.
        Simple fact is that you cannot have a person you are paying for advice, working for the people you are getting advice on, Not to mention its in the brokers interest to get you to take on as much debt as possible, from the bank that pays them the most. Legally they only have to tell you about the deal they have chosen for you, not what they get paid if you chose someone else.

      • kiwikarynMEMBER

        God, next someone is going to suggest that buyers have to pay real estate agents, because they get their commissions from the sellers. Which does happen in countries like the US, but then its a 6% commission split 3% to the sellers agent, and 3% to the buyers. Does the buyer really gain anything by paying the commission?

      • C.M.BurnsMEMBER

        Is that you Peter Fraser ?

        If you’re customer isn’t prepapred to actually pay for your service then you shouldn’t exist. Or at least stop pretending that the home buyer is your customer. They’re not. They are your product. The banks are your customers.

        And the banks pay you trailing commissions so you won’t act like blowflies on $h1t and keep trying to churn their customers every 2-3 years.

      • Mortgage brokers only exist because of the property bubble and the exploitation and corruption necessary to create and sustain it.

      • Q. How would you sell your house if the Real Estate agent had to charge buyers and sellers for their service?

        …. It would be sold but would it be a different price than if any buyer could have been shown the property?

      • Robert, you generally don’t get a cheaper deal if you go direct to the bank because the bank work on the fact that to move home loan providers is a big job, moreso now, and so people just cop it. Case in point – friend had a home loan at one of the big 4. Went to the bank when his loan came off fixed 2 weeks ago, they offered him a 1% discount off variable rate (So i guess that would be about 4.37%)
        Went to a loan broker who submitted for pricing to same bank – got 1.45% discount for client – banks know brokers will move clients in a heartbeat if they don’t sharpen the pencil (well at least while they get paid. Hence dealing direct with the banks will ultimately in my view mean higher costs to borrowers and more profit to banks.

      • In a country as large as Australia, if fringe land was cheap and anyone might build a home there might be no requirement for anyone to take out a home loan. There may be building cooperatives.
        That option does not exist creating a situation where people are forced to commit lifelong earnings to a bank just for a roof over their heads.

    • @anzac. Agreed. Banks have been prepared to pay egregious commissions to brokers, not so much for the business they bring in (although that is obviously a benefit to the bank) but more for the plausible deniability that is created in the system by inserting a middleman between customer and mortgage provider. As a last resort, banks can use the broker as the fall-guy for an inadequately or illegally assessed loan that goes wrong. Nobbling broker-commissions will be an important step to increasing bank accountability.

  7. When was Henry ever loveable? He was always an arrogant neoliberal Keatingite. His behaviour is totally predictable.
    Look at the way he lectured Hayne and Orr on capitalism during the RC. What an arrogant clueless idiot.

  8. How about Sally be asked to address her support for wage and conditions destroying population growth?

    • Thank you! I kept trying to put my thoughts about this RC and the outcome into words.
      You just got it exactly right. Seriously commenting on it is impossible.

      I’ll just add this. This corruption in the Banks has been going on for 20 odd years that I know of and I was personally the target of it at one stage. It’s endemic. There is nothing, repeat NOTHING!, to build on that is not corrupt. Lying and corruption has honeycombed the Banks and has honeycombed the whole society in the process.
      Nothing is going to change.


        Words ( and hope) fail me now, too.
        ‘Kodiak’ once said here that the only laws that are enforced in Straya are traffic speeds and red-light cameras.

  9. Looked at Sally’s video – not a good look. And neither was the letter from Ken Henry.

    Sally’s the one supporting the cannon fodder that feed the mass immigration Ponzi scheme and has destroyed collective action through a strong Australian union movement. I’d like to see her letters with Innes Willox that plan to bring in a foreign workforce that will work for peanuts.

    • Yes, it’s hard to see Sally as representative of labour, more as a representative of big construction and big super.

    • I wonder if rather than troll(s), it’s actually just one troll. Quite the coincidence that we suddenly have a flood of member-less right wingers, all spewing exactly the same stuff.

  10. why aren’t we buying yellow vests??? I guess we expect the French to fight for our rights. We are truly a special breed.

    • ErmingtonPlumbingMEMBER

      Ive been following these frenchie yellow vesters alot on Twitter.
      They are still pulling large numbers of people on the streets yet very little Coporate media reporting on them annymore.

    • Right on Nikola
      I lived and worked in France for a while. They don’t take the sort of sh!t Australians swallow. I particularly remember one Minister of Agriculture who upset the farmers. He ended up with several tons of pigsh!t in his posh front garden. Over there the public have their politician’s complete attention – if they know what’s good for them!

      • I remember an Australia where workers to direct industrial action and hit the streets when the pollies went to far…
        but somewhere along the way something got lost… one day I hope it is found.

      • Possibly what got lost were the jobs were taking industrial action had consequences anyone actually gave a rats a#$e about.
        RE agents, coffee makers and personal trainers don’t exactly end the world by withdrawing their services.

    • reusachtigeMEMBER

      LOLOLOL! Only weirdos in Australia do that sort of sh1t. Anyway, we are too busy with Facebook, Eco Blogs, Twitter, p0rn (especially p0rn), computer games, unsociable drugs (well I suppose party drugs too, they do keep me busy) etc etc. Plus the good people have mortgages to strive for. Meanwhile, food is very plentiful and you can snack on that between “activities”.

      I’m actually glad we have all these things to keep us occupied because I’d hate to see the losers ruin my profits.

  11. McManus spills the beans. Wow. Pity no one asked for her to comment when the CFMEU was shredding thousands of documents. She reminds me of Anna Bligh in a way, same formula – different label. But anyway – whodathoughtit? Banks being in it for profit; Greed? Where have you been for the last 600 years? You wouldn’t want to have crossed a medieval Italian banker I can tell you. The pope would have personally terminated you. And the number of bankers going to jail? Ha ha ha .
    Plus que ca change…..

  12. Politicians and banking executives colluding to prevent their dirty laundry being aired? I’m shocked. Really, definitely did not see this coming. So stunned that these two groups of upstanding citizens would do that /s

  13. Henry gave up and went to the dark side obviously – he realised that fighting the good fight had no effect and adopted the ‘if you can’t beat them, join them’ mantra. Now they hang him out to dry – it’s always the turncoats that get sacrificed first.

    • HadronCollision

      He doesn’t value his character or rep.
      So, he went for the $$
      Quicky feather thy nest then head off into the bush to commune with wombats

      The long game, marsupial style

    • Not all of them ummester. You’ve forgotten Cap’n Bligh. Doing very nicely. Apart from an unplanned health episode has always done. I did some contract work for her QLD “Labor” (ho ho) government a while back. There was only one contractor who had a contract for more than a 1 year term (that I knew of). His name? Bligh! Her husband of course. You have to admit the McManuses and Blighs of this world are brilliant schemers. You have to be to swim to the top in a cesspit.

      • Well, generally, the higher the stakes/gains, the worse the human behaviour exhibited rob. People don’t back stab each other over 50c but a couple of million and it’s an entirely different story. What’s that saying – to rise above the rat race you still have to be a rat.

        I’m starting to think the only way to truly ‘win’ or find some semblance of genuine, meaningful existence is to disassociate yourself from the race entirely. Become a monk 🙂 But seriously, I do think that Western civilisation and society as a whole has become corrupted to a level that is unsalvageable – and what makes it worse is there aren’t any better options.

  14. The fact we even needs these Royal Commissions shows there are obviously huge problems in our society. Just our mentality of consuming the world’s resources like there is no tomorrow and the way we treat other living creatures and the environment shows what we really are: broken.

  15. Hmmm… I have not read all the comments but has any consideration been given to the fact the a MP cant stop a “lobbyist” writing to them? What would be more interesting / damning is an analysis of Ken’s requests and what was actually put in place. For all we know ScoMo COULD of ignored all of the requests and in fact ‘gone the other way”. Sure, it may be unlikely but we need to maintain fair trials. Before the lynching