Treasurer Scott Morrison will not apologize or admit he was wrong for repeatedly opposing the banking royal commission, which has since revealed stunning abuses by some of Australia's best-known institutions.

Labor, The Greens, and even some Nationals back-benchers pushed hard for the formal inquiry, but Mr. Morrison and the Liberals resisted.  This week's hearings featured tales of a Commonwealth Bank subsidiary charging fees to dead people, and AMP charging the living for services never performed.

After evidence of misconduct piled up, former deputy prime minister Barnaby Joyce admitted he was wrong to oppose the inquiry.  But Morrison refuses to apologize, and instead vented on Labor leader Bill Shorten for supposedly trying to score points off of the scandal.

Labor frontbencher Anthony Albanese said the royal commission proves that Labor's (and The Greens' and a handful of Nats') approach was correct.  He also accused the Government of having run a "protection racket" for the banks and finance sector.

The Government "voted against the royal commission on more than 20 occasions," said Mr. Albanese in an interview with Channel Nine.  "Even when members of their own backbench were crying out for this royal commission, they were describing it as a a stunt, as reckless, as something that wouldn't achieve anything, as just populist nonsense."