One task possibly being finalised by the Financial System Inquiry is accounting for the fallout of the global financial crisis in Australia.The shockwaves from the episode are now enveloping Commonwealth Bank, Australia's largest.CBA is merely the latest victim in a series of events falsely portrayed by Australian financial overseers close to the action of having, alternately, North American or European characteristics.A toxic local culture centred on encouraging growth and sales in financial services is a common theme behind the known wounds the GFC inflicted in Australia.ANZ and NAB, like CBA, were late to the US party, and planted their own bombs; in the form of costs packaged, falsely sold debt investments.St George ran like a rabbit to Westpac, in the tailwind of the obliteration of much of the non-bank challenger segment and the consolidation of survivors.Westpac advertised its own weakness and debt to capital market grandees with special dividends.Yet all appear cocky and confident in a prosperous financial market.It is in this context that CBA, the bank in the spotlight, must push its way through the financial planning mess.