a sic joke

Talk about closing the barn door after the horse bolted,ASIC needs to first investigate the following ------------it self first

1/Was any person or persons in contact with the directors in Timbercorp and or GTP?

2/In what context and to what extent?

3/Was it generally known or specifically giving advice to the the companies and to what extent?

4/Was the contact with ASIC and the company directors at arms length?---if not,why not?

5/Under the Asic organisational chart,who was in charge and where does the specific paper trail start and finish?

6/Were the staff of ASIC competent and thorough in their due diligence?

7/Is ASIC an advisory body?,in the context that it only records in an advisory capacity and is restricted in making and or recommending a correction to be able to act on or another law enforcement body to investigate?

8/Has any person persons in ASIC or for that fact any government authority including educational institutions had formal and or informal discussions even in private
in regards to gtp and timbercorp?

As a tax payer I am entittled,to know this so has to be able to have confidence in making a proper informed investment decisions

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I refer and urge people to reread the article in reference to the alert that ASIC got TWO AND HALF YEARS AGO,and this is tabled at the senate inquiry
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In the mean time hammer ASIC,this is a set up to fold GTP and Timbercorp.
ring them fax them email them .Ask will the FIRST investigation will be in ASIC it self

Remember Hackett is a director of GTP,and was with ASIC for several years before he went to Great Southern



ASIC look at schemes

July 16, 2009
THE Australian Securities and Investment Commission has set up a special taskforce to examine managed investment schemes.

The Weekly Times understands the taskforce was set up following the failures of MIS giants Timbercorp and Great Southern.

The team will look at how best to protect investors and will also examine a range of regulatory issues.

The Weekly Times also understands the taskforce will carry out surveys with MIS investors, asking them about their investments and the responsible entities.

An ASIC spokeswoman would not comment on the issue.