The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Thursday, July 21, 2011

Told you so #26: Bendigo & Adelaide: banks should be viewed as "utilities"

From the SMH:

"Mr Hirst has become the latest bank executive to caution that the days of banks generating returns in excess of 20 per cent were over, saying the sector should be viewed like a utility, given the critical role banks play in the economy."