Mark Riggall: Is this the start of another GFC?

The events over the past week bear an eerie resemblance to those of the 2008-9 Global Financial Crisis (GFC). Banks have failed, rumours swirl about the next victim and investors hold weekend vigils awaiting the next alphabet soup solution from banking authorities. So should we be concerned? Is there good reason to think that we are on the cusp of a major financial crisis, and should depositors fear the safety of their money?

The GFC sparked significant changes in the regulation of banks across developed markets to shore up the banking system and increase confidence. Banking regulation is an incredibly complex subject with differences across regions. However, the thrust of the regulation has delivered two key changes to banks over the past decade:

Heather du Plessis-Allan: We need an official inquiry into bank profits

Do you know what? I think we need to get on and have an official inquiry into bank profits.

If only to stop the moaning that happens like clockwork every time the banks report their profits.

You can blame the Reserve Bank for this.

Earlier this week, their Chief Economist Paul Conway said: "I think the banking sector would be an appropriate focus for a market study, should the Government wish to go there."

Barend Vlaardingerbroek: Do I have a right to my own money or not?

I never thought the day would come – BV having a cell phone.

Over the years I have said lots of nasty things, some of them recorded in these annals, about androids glued to their little plastic-and-silicon control boxes. Admittedly that has mostly been with so-called smart phones in mind, but I am only marginally more favourably inclined towards cell phones. Alright, some people need them for their work – medics, for instance – but most of us don’t. I am one of those who don’t – or thought I was. 

Now, beside the tele, there lies a little plastic bag containing BV’s cell phone and a little pad in which I have written instructions to myself on what buttons to press and when. History has been made. What has brought about this momentous turn-around?

Answer: my bank in NZ.