Get Your Free Audiobook

Non-member price: $42.54

After 2 months, Audible is $16.45/mo. Cancel anytime.

Publisher's Summary

The shocking truth about Australia's financial institutions, as told by the journalist who did most to bring about Australia's banking royal commission. Against all the odds Australia ended up with a banking royal commission. Since hearings began in 2018, revelations about banking and insurance company practices have rocked the nation. Even defenders of the banks have been blindsided.

In Banking Bad, Adele Ferguson traces the origins of the banking scandal to the early 1990s, when buckets of money began pouring into compulsory superannuation funds, set up by Labor Treasurer Paul Keating. Attracted by the increasing cash, banks devised corrupt and questionable practices to get their hands on funds, along with aggressive selling practices that ignored due diligence, trust and honesty. Drawing on her multiple sources who led her to break the story of malpractice – the individuals, business owners, farmers and ordinary people who lost everything - Adele also looks at the falls from grace at the hands of the royal commission of some of the country's most highly ranked captains of industry, the failure of regulators and recommendations of the commissioner, Kenneth Hayne. And she asks where to from here?

©2019 Adele Ferguson (P)2019 Bolinda Publishing

What listeners say about Banking Bad

Average Customer Ratings
Overall
  • 5 out of 5 stars
  • 5 Stars
    92
  • 4 Stars
    13
  • 3 Stars
    5
  • 2 Stars
    0
  • 1 Stars
    1
Performance
  • 4.5 out of 5 stars
  • 5 Stars
    69
  • 4 Stars
    15
  • 3 Stars
    12
  • 2 Stars
    2
  • 1 Stars
    2
Story
  • 5 out of 5 stars
  • 5 Stars
    82
  • 4 Stars
    13
  • 3 Stars
    4
  • 2 Stars
    0
  • 1 Stars
    1

Reviews - Please select the tabs below to change the source of reviews.

Sort by:
Filter by:
  • Overall
    4 out of 5 stars
  • Performance
    3 out of 5 stars
  • Story
    5 out of 5 stars

Banks - Too Big to Fail? - Don't you believe it

The NEXT crash will make 1929 look like a dress rehearsal. Thank God for the Adele Ferguson's of the world. Well laid out and painted a realistic picture of all the usual suspects. A Dummies Guide to corruption in the Australian Financial sector and the revolving door that is APRA, ASIC and the Australian Federal Government. From start to finish the audio book was gripping in that the so called AAA rated Australian 4 big fat cow banks are ROTTON TO THE CORE and nothing has changed

1 person found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Amazing book

This book is extremely well written. It gives so much information in a succinct & easy to understand story. I’m glad Adele read this herself, I don’t believe anyone else would have been able to add the feeling or emotion she did, without being dramatic.
I was brought to tears a number of times listening to how the banks had cheated, lied & ripped the common person off with complete disregard of everything except profits.

I highly recommend this book to everyone. I would love to see this book compulsory reading for secondary students.

1 person found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Banking bad - everyone must read this book

I'll never use a big four bank again. I'm gob smacked at the way CEO's failed to acknowledge the need for change.

  • Overall
    3 out of 5 stars
  • Performance
    3 out of 5 stars
  • Story
    3 out of 5 stars

Interesting but somewhat biased

An interesting recap of the history of Australia's Financial service industry dating back to the 90s. Also a decent recap of the Banking Royal Commission if you have missed it. The stories were definitely aimed at bashing the banks and seemed biased. However, it did provide some insights and case studies for us to ponder on.

  • Overall
    4 out of 5 stars
  • Performance
    3 out of 5 stars
  • Story
    5 out of 5 stars

A must listen to for every Australian

A must read/listen too!
Contains factual circumstances and referencing of a corrupt industry, so focused on keeping your money they are willing to lie, cheat and steal to keep it!
Excellently written, and narrated well too.

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

A truth so unbelievable it reads like fiction

A fantastic book that is well read by the author. Facts and stories that are so unbelievable you could never imagine them happening. A great insight into what appears to have been a illusion in fairness and must read for the development of financial discernment.

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

It's impossible not to be moved ... a must read!

Oh wow.. no.. this can't be true.. there's more oh wow. It was impossible not to be moved by the absolutely abhorrent treatment by the banks ... I listened on to Banking Bad. At times I had tears streaming down my face as I drove and endured the horrors of those deprived of life savings or insurance claims..suffering as the banks showed a complete disregard and the regulator looked on. You couldn't write a better movie script, but movie goers would say the story line was too incredulous to believe. These institutions placed themselves so far above us all and they continue to fail us. I felt like a fool recalling discussions with my US colleagues where I blindly upheld the honour our our Australian banking institutions. My mind raised to my super, my bank accounts, why money just reappeared in my ANZ account. It's fair to say my faith in the banking system is shattered. Will it ever change. Extremely well researched and written. A must read or listen.

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Gripping Read

I could not stop listening. I listened twice through and rarely do that with any book. Brilliantly written and spoken by Adele Ferguson the author.

I can recommend this to anyone who believes in the saying that ‘evil only prevails when good people do nothing’. The book is filled with hero’s and villains and is an example of the media fighting for good rather than quick headlines that tell stories. It’s also an example of how greed and corruption can fester and grow unchecked in powers that control our community. Sadly it is also an example of how Banks have not always lived by the ethos that when a customer chooses a financial institution to entrust their hard earned money with, it is a privilege to be earned and protected, not a right to deceive or connive for profit.

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Awesome... but horrible

You will want to picket the banks and government after hearing this. How we did not get this done years ago and jail the bankers and politicians is beyond me. At least a light has been shone on these bastards.

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

So revealing

Exceptional investigative journalism. loved it but was confronted by the facts that came out. a must read for anyone using the financial sector.

Sort by:
Filter by:
  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Anonymous User
  • Anonymous User
  • 14-07-2020

NZ Banks

It’s to be hoped ASIC & APRA bring some proper regulatory oversight of the NZ banking sector, which has also been complicit in following the lending, risk, over-selling & remuneration behaviours, of their Australian parent banks

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Christian
  • Christian
  • 08-08-2019

Brilliant. Reveals tragic path to Royal Commission

investigative journalist Adele Ferguson writes a gripping account of the rot in Australia's fin-services sector.

In the spirit of reconciliation, Audible Australia acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.