Ann: Appointment of Administrators, page-62

"Seems like a risky play to expose your business heavily to a heavily subsidized industry due to political risk."

Yes I agree that would have been a risk in the future, but our sorrow is that RCR has no future.

All its future is behind it now.

I don't think we can blame RCR's demise on any particular governmental ba$tardry.

I suppose that the inordinate influence of the ETU in Queensland could have been an indirect factor, but that is clutching at straws.

A lack of the appropriate means of torture in the basement at ASIC and a lack of willingness to use those means is probably a credible factor.

More directly, the Australian banks are now scared $h!tless as a result the revelations about their past/ongoing skulduggery and that was probably quite potent factor in the reluctance to lend funds to keep RCR afloat. Indirectly, RCR share holders are victims of the Royal Commission into banks.

Robert Gottliebsen made a good point in the Weekend Australian, which is that we are in danger of sleepwalking into a house price collapse and consequent recession due to the convergence and synergistic effects of several independent factors that are all coming together now, namely:

Tighter capital requirements on banks from APRA.

The fact that the Royal Commission has put the wind up the banks about irresponsible lending.

The rising cost of borrowing for the banks overseas.

The prospect of a Labor government removing negative gearing and the capital gains tax discount.

Meanwhile we have Morrison running around trying to convince us that he is Mr Everyman and Shorten is hoping that no one will notice that he is about as personally appealing as  turd on a banquet table.

End of rant

Cheers