COMMENT
Our esteemed Reserve Bank Governor is back from the Jackson Hole chin-wag and has resumed his guns-at-dawn scrap with the banks over the amount of money they have to stash away just in case the world ends.
Maybe at Jackson Hole they told him the world was ending, so he's back with his latest salvo.
Nothing is too big to fail is his new line. Just to get us back up to speed Orr wants the banks to significantly increase the amount of money they keep aside for calamity.
The banks say it's too much, that Orr is too nervous and conservative. The banks say the more you make them keep, then the more expensive banking gets. The higher costs of course are passed on to the punter.
I always like to argue on fact and not theory. And the fact is the best example of trouble we have had of late is the global financial crisis. In 2008, the world started to melt down and a lot of stuff hit the fan. But our banks didn't. They didn't even come close.
Say all you want about banks, but if you're arguing on fact then you must concede in this part of the world they have been - and continue to be - very, very successful. You might ironically argue too much so. Just take a look at the reportage a week or so back on their results.