Sunday 21 October 2018

Noonan needs to toughen up with our greedy banks

Sarah Carey

Sarah Carey

I wish this was ancient history, but it's not.

Remember the bit about how the banks, populated by a bunch of testosterone-fuelled cowboys with a sense of invincibility, but no other kind of sense, showed up one night at the Department of Finance where a bunch of panic-stricken conservative civil servants caved in to the prospect of economic mayhem?

You know how we all subsequently agreed that that fateful intertwining of sovereign and bank debt was a terrible disaster? And how we swore we'd never let the banks do this to us again?

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