Opinion
The woke bank asleep at the wheel
The tale of Westpac demonstrates what happens when a company, and especially a bank, starts to forget it's a capitalist enterprise and thinks of itself instead as a progressive political outfit.
John RoskamColumnistThe phrase "Go Woke, Go Broke" doesn't quite apply to Westpac. But it nearly does.
Allegations that it breached anti-money-laundering laws 23 million times probably won't send Westpac broke. But the bank's share price has been smashed and Prime Minister Scott Morrison has as good as called for the Westpac board to sack its chief executive.
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John Roskam is a senior fellow at the Institute of Public Affairs. Connect with John on Twitter.
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