McCrann’s week: Why the PM’s bank probe plan is useless yet dangerous

THE Prime Minister’s bank probe plan is a combination of utter uselessness and dangerous offensiveness that only Malcolm Turnbull could possibly conceive, says Terry McCrann.

THE Prime Minister’s demand that the big bank CEOs front the pollies is the sort of brilliant combination of utter uselessness and dangerous offensiveness that only Malcolm Turnbull could possibly conceive.

In his weekly video wrap of the world in business, above, Terry McCrann also says the Reserve Bank’s decision to cut its official rate this week only makes sense if it is prepared to go all the way to zero.

But new governor Philip Lowe should be careful lest he ‘gets’ what retiring governor Glenn Stevens is ‘wishing for’.

Originally published as McCrann’s week: Why the PM’s bank probe plan is useless yet dangerous