The Wire

A buildup of frustration in the community and in government is set to collide with the banks’ reporting season, which is likely to reveal massive profit levels. As the blowtorch on the banks heats up, Joe Hockey has begun to call for an inquiry into the banking system. The Treasurer Wayne Swan so far seems reluctant to take concrete steps to reign in the banks. But its looking increasingly likely that even without the government, there may be a sufficient support in the House of Representatives to move towards an inquiry into the financial services sector.