Public confidence in Australia's banks has been steadily eroding since financial deregulation in 1983 to the point where now the brand of the Big Four banks, and especially the Commonwealth Bank, is at its nadir.

It appears Australia's banks are more satisfied with earning a fast buck than supporting real investment in projects and jobs for the betterment of all Australians.

Consider the loan book of major deposit-taking institutions: Around 60 per cent of new lending is for housing; around 80 per cent of all housing loans are for the purchase of existing property; around 60 per cent of all new loans are made to investors for negatively geared investments; and around 40 per cent of housing loans are interest only.

Somewhere along the line, successive Australian governments, the Reserve Bank, regulators, and the institutions themselves have forgotten that banks do not exist to facilitate speculation by investors via the use of tax subsidised debt.