Labor wants a Royal Commission into bank corruption - Gov Treasurer loses it

I dunno if Labor is getting it together lately, but they certainly seem to be pushing all the right buttons in the community. This decision has rattled the treasurer, Hillsong worshiper Morrison reduced to insulting Shorten's suit in an undignified attack on the person and not the policy.

Morrison said. “Apparently on the eve of the election there are a few [news] reports about banks and Bill Shorten is there in his ill-fitting suit saying we need to thump the table.” The Guardian

The truth is to this policy is way more relevant to the average voter than vague accusations about union corruption from a corrupt Royal Commission into it; a set up job from Abbott. How many Australians have been done over by banks, and how many by vague union corruption? We're talking about very personal experiences from people who've lost homes and money. It will resonate with the people. How many have lost their homes to a "union thug"? How many have lost their homes to corporate thugs?

Or as they used to be called "loan sharks". 

This of course is in direct contrast to Turnbull's budget rabbit out of the hat, that will turn into a rabbit turd no doubt. I'm talking about tax cuts for corporations, which has already gone down like a lead balloon and the budget isn't even out yet. 

Labor is now making a distinct line between itself and the Lieberals. Labor appears to be taking some baby steps to the left. 

Labor has called on the government to launch a royal commission into banks and financial services and said, if it refuses, Labor would do so if elected. 

The decision was announced on Friday by the opposition leader, Bill Shorten, and the shadow treasurer, Chris Bowen. 

The royal commission would conduct a two-year inquiry into the banking and financial services sectors, including superannuation funds, and cost $53m. 

Shorten said the sector had been rocked by a string of scandals that were “not isolated and one-off examples” but rather pointed to systemic problems in the industries. 

Shorten said calling a royal commission was “an important decision, it’s most certainly not made lightly”. 

“Australia has one of the strongest banking sectors in the world and we want to keep it strong,” he said. 

“But public confidence in the banking and financial services industry has taken hit after hit over the previous few years. Many Australians have suffered through the decisions of banks and financial institutions. 

“Retirees who have lost their retirement savings, small businesses who have lost their livelihood, Australian families who have lost hundreds of thousands of dollars, life insurance beneficiaries denied justice and legitimate claims. There are literally tens of thousands of victims if not more. And today I say enough is enough.” The Guardian