The Banking Inquiry is a futile, self-serving exercise
Winston Churchill always believed that jaw-jaw was better than war-war. Pity he missed the Banking Inquiry. There are certain situations which require all-out war against the treatment of helpless, vulnerable people, sacrificed on the altar of greed. The bank guarantee is one of them.
Have we all gone mad? We know that the banking inquiry is a futile exercise. And still we permit politicians to waste weeks of valuable time, and tons of paper, on this exercise. Worse, we allow witnesses to present self-serving statements before their appearance at the inquiry. Then they clarify their self-serving statements, before their appearance at the inquiry.
Then they appear at the Banking Inquiry and read their self-serving statements on television, to make sure we get all the self-serving nuances just right. And finally, they lob back the answers to soft ball questions which will never elicit the information we need.