Yet, there is no evidence countries with lower or no minimum wages outperform others in terms of employment figures.
WTF? See Europe. There is a heap of evidence. If a min wage doesn't hurt employment, lets just raise it by 50% then. May as well.
http://www.forbes.com/sites/timwors...age-is-too-high-youth-unemployment-proves-it/
They have been handed a golden opportunity, use CBA's malfeasance as a chance to reform the industry and the chokepoint they are placing on capital as an excuse to open the industry to greater competition.
Reform? We just need regulators to carry out their jobs well for a change. Australia has 4 big banks. For a country of our size that is very competitive. Whilst I agree the last few mergers shouldn't have been allowed, you wont get much more competition than that. Big os banks don't have much interest.
Its nothing like the UK and US, where the finance industry has real clout.