Australians are learning daily of the full venality of a banking industry that has cheated customers, flouted regulators and created a market where nobody can be sure who is pocketing a hidden fee from their savings.
 |
| The Australian Energy Market Commission report finds that consumer trust in the energy companies has fallen from 50 to 39 per cent in the last year. |
The testimony at the banking royal commission has shamed an entire industry and jolted politicians into planning tougher measures, with a natural focus on one sector alone.
But are financial advisers the only ones who take a cut as they pass consumers through a byzantine industry? The energy business is making all the same mistakes – and building a political timebomb for whoever takes power in Canberra at the next election.
The two industries are closer than they look.
No comments:
Post a Comment