Malcolm Turnbull’s contortions over the banking royal commission highlight the Prime Minister being so right yet so wrong.  His government resisted calling it until even the banks themselves wanted it. Even then, ministers assumed it would vindicate the financial services sector and highlight that Labor’s push for the inquiry – opportunistically just before the 2016 election – was populist tit-for-tat for Bill Shorten’s humiliation before Tony Abbott’s royal commission into trade union skullduggery.