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When will the Beetroot end up in the compost?
A week. If he is lucky 8%  8%  [ 3 ]
A few months at best 14%  14%  [ 5 ]
At least a year 24%  24%  [ 9 ]
He will see out his term 11%  11%  [ 4 ]
He will see his new unborn childs 21st birthday from the duchy of New England 16%  16%  [ 6 ]
What, that filthy sheep shagger? 27%  27%  [ 10 ]
Total votes : 37
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PostPosted: Fri Apr 20, 2018 3:57 am 
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guy smiley wrote:
_fatprop wrote:

I don't think this has festered only under this lib government (although it is a problem for them to fix), there have been numerous iterations all playing on the edges for years


you're quite right, but the issue for the Libs is their steadfast refusal to admit there may be a problem and the fact this commission is only running after the Nats led them kicking and screaming to establish it after Labor and the Greens had been advocating a need for ages.


And the victims are quite a large proportion of aspirational Liberal voters...

They won't forget this time


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PostPosted: Fri Apr 20, 2018 5:38 am 
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John Birmingham and a NSFW take on proceedings...

Quote:
Sheesh. It used to be that the only two certainties in life were death and taxes, and the latter freed you from the burden of former. But it turns out that even in death there’s no escape, at least not from the big banks or AMP, because those greedy motherfucking crooks will crawl into the grave with you for one last chance to go through your pockets. It’s no surprise that racketeers and bottom feeders are attracted to the money business, but after this week’s raging karmageddon at the banking Royal Commission colour me faintly dumbstruck that there seem to be so many fuckin’ corpse robbers trousering performance bonuses for shaking down the dead.

I’m a little less surprised that the government is claiming credit for an inquiry they tried to strangle in the crib. They have no choice. It wasn’t just the ALP and Greens demanding for years that the banks be dragged into the town square and given a solid kicking. Apostate backbench Nats like George Christensen and Barry O’Sullivan were even more vocal. But former banker turned impotent chuffnut Malcolm Turnbull and his grinning scab collector Scott Morrison, did not just resist but actively and aggressively trashed the idea of an inquiry for years. :lol:

Morrison ignored the demands from his own right flank, preferring to shitcan Bill Shorten as a Leninist bomb thrower imperilling the economy with his political opportunism and callous disregard for the feelings of everyone who was ever paid millions of dollars a year for running a bank.

Again, not surprising, because the Liberal Party is nothing if not a hand-tooled Louis Vuitton clutch of apologists and pimp daddies for corporate malfeasance. But it has been fun watching them trying to recast their long history of cock-blocking any threat to the banks as somehow leading the peasant revolt which now threatens to turn Martin Place into a mass grave. It’s like they’re standing in front of the whole country, wearing only novelty plastic Viking helmets, and power wanking while singing ‘The Ride Of The Valkyries’… but they’re telling us it’s the best version of Wagner’s Ring Cycle you’ll ever see outside of the legendary 1937 performance at Berlin’s Haus Vaterland featuring the massed Choir of the Waffen-SS with a rare cameo by Hermann Goerring as Wotan.

Good luck with that, lads.

In just one week of what is currently scheduled as a year long investigation, we learned that AMP lied to ASIC the corporate regulator more than twenty times about charging customers for services they never received. The company then ratfucked an independent report into their ratfucking of ASIC. The Commonwealth Bank made millions from the same scam, but found a way to squeeze even more money out of their victims, by charging the accounts of dead customers, in some cases for years. And Westpac’s money managers are industry leaders at managing to turn your life savings into a small, charred pile of ashes and tears.

One week.

AMP’s chief executive, Craig Meller, announced he was stepping down this morning. He was paid $8.3M last year, which is probably less than AMP stole from their customers, so in one sense he was a bargain. The Board will be sorry to see him go, but a generous multi-million dollar severance package will almost certainly ease the pain of parting.


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PostPosted: Fri Apr 20, 2018 5:54 am 
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guy smiley wrote:
John Birmingham and a NSFW take on proceedings...

Quote:
Sheesh. It used to be that the only two certainties in life were death and taxes, and the latter freed you from the burden of former. But it turns out that even in death there’s no escape, at least not from the big banks or AMP, because those greedy motherfucking crooks will crawl into the grave with you for one last chance to go through your pockets. It’s no surprise that racketeers and bottom feeders are attracted to the money business, but after this week’s raging karmageddon at the banking Royal Commission colour me faintly dumbstruck that there seem to be so many fuckin’ corpse robbers trousering performance bonuses for shaking down the dead.

I’m a little less surprised that the government is claiming credit for an inquiry they tried to strangle in the crib. They have no choice. It wasn’t just the ALP and Greens demanding for years that the banks be dragged into the town square and given a solid kicking. Apostate backbench Nats like George Christensen and Barry O’Sullivan were even more vocal. But former banker turned impotent chuffnut Malcolm Turnbull and his grinning scab collector Scott Morrison, did not just resist but actively and aggressively trashed the idea of an inquiry for years. :lol:

Morrison ignored the demands from his own right flank, preferring to shitcan Bill Shorten as a Leninist bomb thrower imperilling the economy with his political opportunism and callous disregard for the feelings of everyone who was ever paid millions of dollars a year for running a bank.

Again, not surprising, because the Liberal Party is nothing if not a hand-tooled Louis Vuitton clutch of apologists and pimp daddies for corporate malfeasance. But it has been fun watching them trying to recast their long history of cock-blocking any threat to the banks as somehow leading the peasant revolt which now threatens to turn Martin Place into a mass grave. It’s like they’re standing in front of the whole country, wearing only novelty plastic Viking helmets, and power wanking while singing ‘The Ride Of The Valkyries’… but they’re telling us it’s the best version of Wagner’s Ring Cycle you’ll ever see outside of the legendary 1937 performance at Berlin’s Haus Vaterland featuring the massed Choir of the Waffen-SS with a rare cameo by Hermann Goerring as Wotan.

Good luck with that, lads.

In just one week of what is currently scheduled as a year long investigation, we learned that AMP lied to ASIC the corporate regulator more than twenty times about charging customers for services they never received. The company then ratfucked an independent report into their ratfucking of ASIC. The Commonwealth Bank made millions from the same scam, but found a way to squeeze even more money out of their victims, by charging the accounts of dead customers, in some cases for years. And Westpac’s money managers are industry leaders at managing to turn your life savings into a small, charred pile of ashes and tears.

One week.

AMP’s chief executive, Craig Meller, announced he was stepping down this morning. He was paid $8.3M last year, which is probably less than AMP stole from their customers, so in one sense he was a bargain. The Board will be sorry to see him go, but a generous multi-million dollar severance package will almost certainly ease the pain of parting.


Holy shit... :lol: :thumbup:


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PostPosted: Fri Apr 20, 2018 6:05 am 
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:lol: :lol:

Birmingham is a 'kin ripper. He does a weekly newsletter that is solid gold. If you're interested, google aliensideboob. That's his. Costs about $4 / month.


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PostPosted: Fri Apr 20, 2018 6:21 am 
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guy smiley wrote:
_fatprop wrote:

I don't think this has festered only under this lib government (although it is a problem for them to fix), there have been numerous iterations all playing on the edges for years


you're quite right, but the issue for the Libs is their steadfast refusal to admit there may be a problem and the fact this commission is only running after the Nats led them kicking and screaming to establish it after Labor and the Greens had been advocating a need for ages.


Yeah ................. politics


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PostPosted: Sun Apr 22, 2018 12:34 am 
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Car crash of an interview with Financial Services Minister Kelly O'Dywer on Insiders. The ALP will rout the Coalition at the next election if they do nothing more than repeat hilarious quotes made by Coalition ministers opposing the Banking Royal Commission. Kelly O'Dwyer just spent 15 mins looking like an absolute idiot trying to defend anti-Royal Commission comments she made. I actually felt sorry for her, and I hate her.


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PostPosted: Sun Apr 22, 2018 5:18 am 
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guy smiley wrote:
:lol: :lol:

Birmingham is a 'kin ripper. He does a weekly newsletter that is solid gold. If you're interested, google aliensideboob. That's his. Costs about $4 / month.


Image


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PostPosted: Sun Apr 22, 2018 5:19 am 
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Ali's Choice wrote:
Car crash of an interview with Financial Services Minister Kelly O'Dywer on Insiders. The ALP will rout the Coalition at the next election if they do nothing more than repeat hilarious quotes made by Coalition ministers opposing the Banking Royal Commission. Kelly O'Dwyer just spent 15 mins looking like an absolute idiot trying to defend anti-Royal Commission comments she made. I actually felt sorry for her, and I hate her.


You're better off copping it on the chin like Barnaby.


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PostPosted: Sun Apr 22, 2018 5:21 am 
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Ali's Choice wrote:
Car crash of an interview with Financial Services Minister Kelly O'Dywer on Insiders. The ALP will rout the Coalition at the next election if they do nothing more than repeat hilarious quotes made by Coalition ministers opposing the Banking Royal Commission. Kelly O'Dwyer just spent 15 mins looking like an absolute idiot trying to defend anti-Royal Commission comments she made. I actually felt sorry for her, and I hate her.


Just watched that now :lol: :lol: :lol:

She puts the lap in dumb slapper.


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PostPosted: Mon Apr 23, 2018 1:40 am 
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Pat the Ex Mat wrote:
guy smiley wrote:
_fatprop wrote:

I don't think this has festered only under this lib government (although it is a problem for them to fix), there have been numerous iterations all playing on the edges for years


you're quite right, but the issue for the Libs is their steadfast refusal to admit there may be a problem and the fact this commission is only running after the Nats led them kicking and screaming to establish it after Labor and the Greens had been advocating a need for ages.


And the victims are quite a large proportion of aspirational Liberal voters...

They won't forget this time


And now Turnbull apologises for delaying, too late, but a start


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PostPosted: Mon Apr 23, 2018 1:51 am 
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_fatprop wrote:

And now Turnbull apologises for delaying, too late, but a start


Far too late


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PostPosted: Mon Apr 23, 2018 1:52 am 
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guy smiley wrote:
Ali's Choice wrote:
Car crash of an interview with Financial Services Minister Kelly O'Dywer on Insiders. The ALP will rout the Coalition at the next election if they do nothing more than repeat hilarious quotes made by Coalition ministers opposing the Banking Royal Commission. Kelly O'Dwyer just spent 15 mins looking like an absolute idiot trying to defend anti-Royal Commission comments she made. I actually felt sorry for her, and I hate her.


Just watched that now :lol: :lol: :lol:

She puts the lap in dumb slapper.


Me also.

Sadly, more of a reflection on Voter education in Oz rather than her ability :uhoh:


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PostPosted: Mon Apr 23, 2018 2:14 am 
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Pat the Ex Mat wrote:
_fatprop wrote:

And now Turnbull apologises for delaying, too late, but a start


Far too late


Better late than never


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PostPosted: Mon Apr 23, 2018 4:33 am 
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_fatprop wrote:
Pat the Ex Mat wrote:
_fatprop wrote:

And now Turnbull apologises for delaying, too late, but a start


Far too late


Better late than never


He is admitting that they made a political mistake, not that they let the people of Australia down by not acting. What we need are more quality people in the LNP, not like that union riff raff in the ALP. Speaking of unions I want to know when the journos are being tipped off about raids and arrests at the various bank HQs so they can get pictures of quality people being led out in handcuffs. This banking RC is much better spectator sport than that union enquiry fizzer.


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PostPosted: Mon Apr 23, 2018 5:17 am 
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Brumbie_Steve wrote:


He is admitting that they made a political mistake, not that they let the people of Australia down by not acting. What we need are more quality people in the LNP, not like that union riff raff in the ALP. Speaking of unions I want to know when the journos are being tipped off about raids and arrests at the various bank HQs so they can get pictures of quality people being led out in handcuffs. This banking RC is much better spectator sport than that union enquiry fizzer.


Yep, but what outcome can we really expect? There is enough over sight already (if they did their job,) give them more funding I guess and a re-badging for marketing purposes


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PostPosted: Mon Apr 23, 2018 5:21 am 
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_fatprop wrote:
Brumbie_Steve wrote:


He is admitting that they made a political mistake, not that they let the people of Australia down by not acting. What we need are more quality people in the LNP, not like that union riff raff in the ALP. Speaking of unions I want to know when the journos are being tipped off about raids and arrests at the various bank HQs so they can get pictures of quality people being led out in handcuffs. This banking RC is much better spectator sport than that union enquiry fizzer.


Yep, but what outcome can we really expect? There is enough over sight already (if they did their job,) give them more funding I guess and a re-badging for marketing purposes


Well no... ASIC should be able to monitor everything but due to the funding cuts which the Libs deny as having a negative influence, it lacks teeth. If ASIC is reformed and a suitable legislative framework put in place then we should be able to manage.

I too await the arrests. Someone should probably tip off a network so that a minister can spend 6 months hiding from questions about that.


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PostPosted: Mon Apr 23, 2018 6:09 am 
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guy smiley wrote:
_fatprop wrote:
Brumbie_Steve wrote:


He is admitting that they made a political mistake, not that they let the people of Australia down by not acting. What we need are more quality people in the LNP, not like that union riff raff in the ALP. Speaking of unions I want to know when the journos are being tipped off about raids and arrests at the various bank HQs so they can get pictures of quality people being led out in handcuffs. This banking RC is much better spectator sport than that union enquiry fizzer.


Yep, but what outcome can we really expect? There is enough over sight already (if they did their job,) give them more funding I guess and a re-badging for marketing purposes


Well no... ASIC should be able to monitor everything but due to the funding cuts which the Libs deny as having a negative influence, it lacks teeth. If ASIC is reformed and a suitable legislative framework put in place then we should be able to manage.

I too await the arrests. Someone should probably tip off a network so that a minister can spend 6 months hiding from questions about that.


:lol: :x


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PostPosted: Mon Apr 23, 2018 9:22 am 
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So Tony Abbott is blaming ASIC for the banking scandal...

after his government's budget cuts to ASIC weakened it and removed 200 jobs from its personnel. Their argument at the time was

'a greater role for self-regulation instead of state intervention'.

The f**king idiot.
https://www.smh.com.au/politics/federal ... 4zb5y.html


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PostPosted: Mon Apr 23, 2018 9:43 am 
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Sky News commentators are universally celebrating the Coalition's improved Newspoll result, with the 2PP margin narrowing to 51-49. Of course the margin of error is 2.5 pts, and the actual result could quite easily still be 53-47. The reason I am somewhat sceptical is that there has been nothing happen over the past fortnight that would swing an undecided voter. The Banking Royal commission debacle? Please....


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PostPosted: Tue Apr 24, 2018 2:40 am 
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The IPA shill on Q&A last night.... :roll:

One of their other Board members is running for parliament despite being against big government... :blush: :lol:


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PostPosted: Tue Apr 24, 2018 2:42 am 
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Ali's Choice wrote:
Sky News commentators are universally celebrating the Coalition's improved Newspoll result, with the 2PP margin narrowing to 51-49. Of course the margin of error is 2.5 pts, and the actual result could quite easily still be 53-47. The reason I am somewhat sceptical is that there has been nothing happen over the past fortnight that would swing an undecided voter. The Banking Royal commission debacle? Please....



or 51-51.5 ;)


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PostPosted: Tue Apr 24, 2018 3:47 am 
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Quote:
Turnbull government considers early election

https://thenewdaily.com.au/news/nationa ... ly-august/

Nothing on Fairfax or Guardian sites...


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PostPosted: Tue Apr 24, 2018 3:55 am 
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Taranaki Snapper wrote:
Quote:
Turnbull government considers early election

https://thenewdaily.com.au/news/nationa ... ly-august/

Nothing on Fairfax or Guardian sites...


They must have a death wish! :shock:


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PostPosted: Tue Apr 24, 2018 6:14 am 
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Pat the Ex Mat wrote:
Taranaki Snapper wrote:
Quote:
Turnbull government considers early election

https://thenewdaily.com.au/news/nationa ... ly-august/

Nothing on Fairfax or Guardian sites...


They must have a death wish! :shock:


or they want to get in front of bad news.


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PostPosted: Tue Apr 24, 2018 10:28 pm 
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_fatprop wrote:
Ali's Choice wrote:
Sky News commentators are universally celebrating the Coalition's improved Newspoll result, with the 2PP margin narrowing to 51-49. Of course the margin of error is 2.5 pts, and the actual result could quite easily still be 53-47. The reason I am somewhat sceptical is that there has been nothing happen over the past fortnight that would swing an undecided voter. The Banking Royal commission debacle? Please....



or 51-51.5 ;)


Possibly. Personally I think the trend is against your beloved Coalition. Whilst the 2PP might have narrowed, 30 Newspolls in a row suggests a general trend.

The problem is that this government stands for nothing, has no narrative, has a weak leader and is at war with itself. And it's only major policy, the $65 billion tax cut to big business, is in tatters given the recent revelations from the banking Royal Commission. If Malcolm Turnbull thinks he can win election off the back of a $20 billion tax cut for the banks he is utterly delusional.


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PostPosted: Tue Apr 24, 2018 10:30 pm 
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Burke's Boot wrote:
Ali's Choice wrote:
Car crash of an interview with Financial Services Minister Kelly O'Dywer on Insiders. The ALP will rout the Coalition at the next election if they do nothing more than repeat hilarious quotes made by Coalition ministers opposing the Banking Royal Commission. Kelly O'Dwyer just spent 15 mins looking like an absolute idiot trying to defend anti-Royal Commission comments she made. I actually felt sorry for her, and I hate her.


You're better off copping it on the chin like Barnaby.


Or Barnaby's former staffer :proud:


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PostPosted: Tue Apr 24, 2018 11:36 pm 
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Ali's Choice wrote:
_fatprop wrote:
Ali's Choice wrote:
Sky News commentators are universally celebrating the Coalition's improved Newspoll result, with the 2PP margin narrowing to 51-49. Of course the margin of error is 2.5 pts, and the actual result could quite easily still be 53-47. The reason I am somewhat sceptical is that there has been nothing happen over the past fortnight that would swing an undecided voter. The Banking Royal commission debacle? Please....



or 51-51.5 ;)


Possibly. Personally I think the trend is against your beloved Coalition. Whilst the 2PP might have narrowed, 30 Newspolls in a row suggests a general trend.

The problem is that this government stands for nothing, has no narrative, has a weak leader and is at war with itself. And it's only major policy, the $65 billion tax cut to big business, is in tatters given the recent revelations from the banking Royal Commission. If Malcolm Turnbull thinks he can win election off the back of a $20 billion tax cut for the banks he is utterly delusional.


I have no idea really, Labor should be streets ahead, but they aren't and the error factor in these polls makes to key answer "dunno" how far labor will win by

Tax cuts to businesses? Well we need businesses profitable and employing. You can either lower taxes on profits or lower internal costs (sack staff and automate - automation have cut two full time staff from my business)

We need more wealthy people taking chances with their wealth (funnily enough I have never been employed by a poor person), whether that be investing in established businesses or taking greater risks and being more entrepreneurial. They need a decent return for the risk

The banking commission is going to show a litany of f*ck ups and f*ckwitterty - my concern is the so what.

What will change? The last time this happened, the banks added layers upon layers of procedures and the outcome was more internal costs and less money lent. Getting the balance right, between senior management's drive for profits, controlling middle management and independent adviser's greed and smart controls will be the issue.

The roman circus is great daily outrage material, but what we do about it is the issue


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PostPosted: Tue Apr 24, 2018 11:46 pm 
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_fatprop wrote:
I have no idea really, Labor should be streets ahead, but they aren't and the error factor in these polls makes to key answer "dunno" how far labor will win by

Tax cuts to businesses? Well we need businesses profitable and employing. You can either lower taxes on profits or lower internal costs (sack staff and automate - automation have cut two full time staff from my business)

We need more wealthy people taking chances with their wealth (funnily enough I have never been employed by a poor person), whether that be investing in established businesses or taking greater risks and being more entrepreneurial. They need a decent return for the risk

The banking commission is going to show a litany of f*ck ups and f*ckwitterty - my concern is the so what.

What will change? The last time this happened, the banks added layers upon layers of procedures and the outcome was more internal costs and less money lent. Getting the balance right, between senior management's drive for profits, controlling middle management and independent adviser's greed and smart controls will be the issue.

The roman circus is great daily outrage material, but what we do about it is the issue


The average Newposll 2PP over the past 6 moths is 52.5/47.5. In the Australian Federal context, that is "streets ahead".

What do we do about the widespread Banking malpractice that has been exposed? Harsh penalties, more regulation and strengthening the regulator. Your side's belief that the sector should be left to self-regulate has been exposed as a sham.


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PostPosted: Wed Apr 25, 2018 12:01 am 
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Ali's Choice wrote:
_fatprop wrote:
I have no idea really, Labor should be streets ahead, but they aren't and the error factor in these polls makes to key answer "dunno" how far labor will win by

Tax cuts to businesses? Well we need businesses profitable and employing. You can either lower taxes on profits or lower internal costs (sack staff and automate - automation have cut two full time staff from my business)

We need more wealthy people taking chances with their wealth (funnily enough I have never been employed by a poor person), whether that be investing in established businesses or taking greater risks and being more entrepreneurial. They need a decent return for the risk

The banking commission is going to show a litany of f*ck ups and f*ckwitterty - my concern is the so what.

What will change? The last time this happened, the banks added layers upon layers of procedures and the outcome was more internal costs and less money lent. Getting the balance right, between senior management's drive for profits, controlling middle management and independent adviser's greed and smart controls will be the issue.

The roman circus is great daily outrage material, but what we do about it is the issue


The average Newposll 2PP over the past 6 moths is 52.5/47.5. In the Australian Federal context, that is "streets ahead".

What do we do about the widespread Banking malpractice that has been exposed? Harsh penalties, more regulation and strengthening the regulator. Your side's belief that the sector should be left to self-regulate has been exposed as a sham.


Agreed, it is the outcome of that that should have us all concerned.

Usually more regulation and harsher penalties equates in banking to more difficulty in getting the loans businesses and home owners want and need - as layers of bureaucracy get added to comply with the new regulation and regulators auditing requirements.

Getting that mix right is bloody difficult, I expect a heavy hand initially, some re-branding of regulators, all funded by the banks and finance to become more expensive and more difficult to get


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PostPosted: Wed Apr 25, 2018 12:05 am 
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Much is made of polls, particularly the Newspoll which is curious considering the blatant political bias of the organisation... but ultimately they are only media talking points with the leaders in such polls rarely mentioning them and the laggers even less.

Within that context though, it's pertinent to remind you of what Wambers said... I think it was Wambers, a while back.

It's not 30 lost polls for the coalition.

It's 60.

5 years of being on the nose with the voting public and a significant marker in that 5 year stretch was almost losing a DD election.

There has been nothing happen on the political landscape in the last month to suggest the govt would have gained traction in polls, while the Banking Royal Commission will leave this govt looking... and this is a stretch I know, even more inept than they looked before.


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PostPosted: Wed Apr 25, 2018 12:13 am 
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The regulators have been far too "flexible" I suspect. They have bent over backwards to avoid bad publicity for the banking and insurance sector. In principle, that should be a good thing, but only if (a) the institutions truly learn from, and take seriously, problems that regulators identify, and (b) that learning results in lasting cultural change.


Having worked for the Reserve Bank, and having worked separately in the finance sector, I am absolutely stunned at some of this stuff. Mind you,


When I left school and worked for the then Bank of New South Wales as a trainee, the bank manager was a senior and respected figure in the community.

APRA was supposed to oversee the sector. They really should have learned from the HIH disaster. Maybe one problem is that governments are not willing to pay enough to get the really clever and connected operators to work for the watchdogs.


I will bet Singapore does.


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PostPosted: Wed Apr 25, 2018 12:27 am 
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Salient wrote:
Burke's Boot wrote:
Ali's Choice wrote:
Car crash of an interview with Financial Services Minister Kelly O'Dywer on Insiders. The ALP will rout the Coalition at the next election if they do nothing more than repeat hilarious quotes made by Coalition ministers opposing the Banking Royal Commission. Kelly O'Dwyer just spent 15 mins looking like an absolute idiot trying to defend anti-Royal Commission comments she made. I actually felt sorry for her, and I hate her.


You're better off copping it on the chin like Barnaby.


Or Barnaby's former staffer :proud:


that's not how babies are made...


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PostPosted: Wed Apr 25, 2018 2:47 am 
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Location: Coalfalls
Taranaki Snapper wrote:
Salient wrote:
Burke's Boot wrote:
Ali's Choice wrote:
Car crash of an interview with Financial Services Minister Kelly O'Dywer on Insiders. The ALP will rout the Coalition at the next election if they do nothing more than repeat hilarious quotes made by Coalition ministers opposing the Banking Royal Commission. Kelly O'Dwyer just spent 15 mins looking like an absolute idiot trying to defend anti-Royal Commission comments she made. I actually felt sorry for her, and I hate her.


You're better off copping it on the chin like Barnaby.


Or Barnaby's former staffer :proud:


that's not how babies are made...


'C'mon sweetheart suck it all the way to the base. You want an adorable applecheeked baby, don't you?'



Wrecker of harmless fun :x


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PostPosted: Wed Apr 25, 2018 3:00 am 
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wamberal99 wrote:

APRA was supposed to oversee the sector. They really should have learned from the HIH disaster. Maybe one problem is that governments are not willing to pay enough to get the really clever and connected operators


From what I have read, they tended to not go for convictions as they believed the judiciary would not accept the findings, setting a precedent.

That really needs to be looked at urgently


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PostPosted: Thu Apr 26, 2018 7:50 am 
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Apparently Josh Frydenberg absolutely skewered Alan Jones on his programme, today I think. There is an article in the Grauniad by Katherine Murphy. Good journo.


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PostPosted: Thu Apr 26, 2018 7:57 am 
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wamberal99 wrote:
Apparently Josh Frydenberg absolutely skewered Alan Jones on his programme, today I think. There is an article in the Grauniad by Katherine Murphy. Good journo.


Yep, good piece
https://www.theguardian.com/australia-n ... -blasphemy


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PostPosted: Thu Apr 26, 2018 11:55 pm 
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Location: Adelaide via Sydney and Patea
Last chance to give your opinion on Hanson's Immigration Bill:
https://www.aph.gov.au/Parliamentary_Bu ... ine_survey
http://www.abc.net.au/news/2018-04-27/p ... ce/9701272


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PostPosted: Fri Apr 27, 2018 2:39 am 
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Bernie Fraser, former Reserve Bank Governor, is product of a working class home, was brought up in an "austere" environment, studied by the light of a kerosene lamp during his High School days.


Always had a soft spot for Bernie, back when he was at the RBA, he went over to the Domain whenever he could to play touch footy. Big Raiders supporter.



I was somewhat relieved when he said a couple of days ago that he had not been in favour of the Royal Commission into the banks etc because he believed that the problems could basically befixed by the various institutions involved, the companies, and the regulators.


Having been totally wrong on this, I feel slightly better to find myself in Bernie's company. But only slightly. I am sure that Bernie would have had a similar mindset to me. Financial institutions are totally dependent on the maintenance of a good name. It is unthinkable to people of our generation that there could possibly be avarice, carelessness, and outright farking stupidity on this scale in a large, listed, public company of any kind, let alone a financial institution.


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PostPosted: Fri Apr 27, 2018 6:12 am 
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Banks will do what they can to make a quick buck and will keep doing it until they get caught. Until executives go to jail it will be business as usual with any token fines to be fine paid by shareholders and ultimately the victims aka customers.


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PostPosted: Fri Apr 27, 2018 7:02 am 
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I get the sense that the government is on an election footing and any kind of post-Budget bounce in the polls will be met with a snap election.

After five years of doing nothing successfully, except torture asylum seekers, the government's re-election spiel for a 3rd term will be based around modest personal incomes tax cuts for middle income earners and $70 billion in tax cuts for big business and the banks. When under pressure the Coalition always reverts to type. There are no big ideas, no real agenda and certainly no narrative. Just tax cuts (and the associated cuts to services and spending) and scare campaigns about boat people and Trade Unions.


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