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Bodies such as the Human Rights Commission are a vital part of the checks and balances on executive power. If it is cowed by fear of retribution or vicious personal attacks on its members, we are all the poorer.
Only a Royal Commission can examine whether existing laws are adequate and whether the regulators have the powers and resources they need to address the systemic problems that are so clearly evident in our financial system, and to suggest steps to restore the public's trust in our financial sector.