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Banking Bad

Banking Bad 1

Whistleblowers. Corporate cover-ups. One journalist's fightfor the truth.

by Adele Ferguson

Paperback / softback Publication Date: 05/08/2019

5/5 Rating 1 Reviews
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How corporate greed broke our trust and failed Australia.

In 2018, against all the odds, Australia held a royal commission into the banking and financial services industries. Its revelations rocked the nation. Even defenders of the banks were blindsided.

Few people were more instrumental in bringing about the commission than journalist Adele Ferguson. Through her exposes in print and on television, she pursued the truth about funds mismanagement, fraud, lack of probity, and the hard-sell culture that took over the finance industry after deregulation in the 1980s. But it wasn't just light-touch regulators and crooked bankers growing fat on bonuses she put under the spotlight. It was also their victims - men and women who had lost everything, and had no recourse when they discovered empty accounts, egregious fees, forged documents and broken promises.

Now in Banking Bad, Ferguson tells the full story of the power imbalance, toxic culture and cover-ups. She describes the long fight for justice by whistleblowers, victims and political mavericks, and she looks at the outcomes of the royal commission - the falls from grace, the damaging hubris, the scathing assessment of the regulators, and the colossal compensation bill - an estimated $10 billion.

Finally, she asks whereto from here? In May 2019, the Coalition government, which resisted calls for a royal commission, was re-elected. Bank stocks surged and lending regulations were loosened. Will it all be business as usual from now on, or have our financial executives learned that their wealth cannot come at the expense of ordinary Australians?

This is a book for every person with a bank account.

ISBN:
9780733340116
9780733340116
Category:
Personal finance
Format:
Paperback / softback
Publication Date:
05-08-2019
Publisher:
ABC Books
Country of origin:
Australia
Pages:
400
Dimensions (mm):
234x153x30mm
Weight:
0.56kg
Adele Ferguson

Adele Ferguson is a multi-award winning senior business writer and columnist for The Age, the Sydney Morning Herald and the Australian Financial Review. She is a regular guest reporter on ABC's Four Corners and 7.30, and is the author of the bestselling unauthorised biography Gina Rinehart: The untold story of the richest woman in the world. With more than 20 years' experience, Adele is one of Australia's most awarded journalists.

She has received eight Walkley awards, including a Gold Walkley for her joint Fairfax Media and Four Corners program ‘Banking Bad'; two Gold Quill Awards, including one for her exposé of CBA's CommInsure; two Gold Kennedy Awards; a Logie; and the Graham Perkin Journalist of the Year award. Her series of investigations into the banks over the past five years helped bring about the royal commission into the sector. She was recognised for services to journalism with an AM in 2019.

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Customer Reviews

Average Rating

5 / 5 (1 Ratings)
  • Confronting

    by on

    A tough one to read from an employee of a Bank’s perspective. Plenty of good people tarred with the same brush however, a book that needs to be in the public domain.
    Well worth a read