When former National Australia Bank boss Andrew Thorburn fronted Kenneth Hayne’s royal commission, he was ill-advised to expound upon the bank’s renewed statements of “purpose” (set for 50 years) and “vision” (renewed each five years).

Baffled as to why a bank needed two pieces of bullshit where none would suffice, Michael Hodge QC mused: “It sounds so complicated when you say it, but you’re a bank. Presumably your purpose is to be a bank?”