Australia banking: Wucking funderful

When life is good, as it mostly is in the ‘lucky country’, Australians like to say they’ve got “no wuckin’ forries”.

And for years, few Australians had less to worry about than the country’s bankers and financiers, profitably cossetted in a cosy government-protected cartel in a booming economy, and largely spared the competitive steel that hardens their kind in most other markets.

But then came Australia’s brutal 2017-2019 Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.