MB has had an on again, off again affair with David Murray. As the big four CEO he led the development of Australia’s external funding imbalance and house price bubble. But as policy maker he did a good job of helping rectify the very same problems.
But today we must part ways again, via Banking Day:
At the AFR Banking Summit in Sydney on Wednesday the AMP chair warned that regulators’ attempts to reshape bank cultures had gone “over the top” and that aggressive enforcement of black letter law could undo important reforms to the financial system since the 1981 Campbell Inquiry.