To say this election campaign has been light on policy is rather like saying that the World Cup was light on quiet contemplation of the game.
In the hope of improving things, the Centre for Policy Development has published More Than Luck: Ideas Australia needs now. I have a chapter on financial development.
John Quiggin 
Interesting list of contributors, some sharp minds, dissenters even.
Might have a more detailed look a bit later.
Even with a limited knowledge of financial systems the suggestions that John makes in this publication seem sound to me. The article reminded me of a recent exchange I had with my bank. One of the so-called “Community” banks.
When a term deposits was about to mature the bank called me to inform me that I should look at the rates on offer and nominate the length of the next term. The young lady on the end of the phone then told me that the branch had a new financial adviser and that I should consider discussing my options with him in an effort to get a better return. She then suggested that I might consider taking out a margin loan.
After politely refusing the offer and ending the call, I composed my thoughts and realised that it was rather presumptuous of the bank staff to assume that because I had reasonably substantial savings I also had an asset for which I might be able to take a loan out against. And even if I could, I would be prepared to lose that asset if a margin call was made. I also wondered if the financial adviser would have disclosed that possibility if I’d given him the opportunity to do so. It seemed that the bank valued me more as a borrower than a saver. or that maybe they were angling for me to be both a borrower and a saver at the same time.
@David C
David – lovely the way everyone in banks these days from the tellers up are trying to sell you something
…”hello, how are you today? I notice you have some money you might like to invest…perhaps you would be interested in seeing one of our investment consultants?. How is your loan going? Are you happy with it?…Do you know you can redraw some of it?? Have you thought about our special offers? We have some good rates in term deposits at the moment??.”