With AUSTRAC and ASIC having killed Star at least for now and Westpac obliterated due to ASIC, with $40 billion AUD gone, the whole of the ASX and the Australian corporate world looks in jeopardy.
Poor probity, pathetic regulation, non existent compliance response. Bad and ominous for sholders.
How many more companies like Crown, Star, Westpac, BOQ? FMG with ASIC? Will the large companies be broken up from the largest banks to largest casinos to payments and insurance?
XJO - Bear Posts only (Factors which might cause the markets to fall), page-17312
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