The rise in White Collar Crime with the greater emphasis on money and power in today's society is becoming a much bigger problem in current society than there has been in the past. This coupled with lax enforcement of outdated laws can provide the wrong conditions for deviant behaviour who feel than can get away with it is in the national interest to institute a royal commission into the banks, as this useless unloyal divided government tries to avoid. When they are removed, a probity of the culture and conduct of such economically and socially pivotal financial institutions will be commenced. the 60 mins story has typified what is now a not uncommon scenario and there will be a media frenzy when a royal commission unfolds, as ARI was melted down, Anset was hijacked and the snowball effect of many other insolvency’s that come have occurred.
will all be very interesting as it unfolds and from the many issues surrounding the destructive loss to Australia, 80,000 ARI shareholders, Superfunds, over 1,000,000 super members accounts whom supported investing in Australian assets class and even the banks could take up a 30% loss, but if relisted would had realised a profit
If illegality is uncovered, some may end up appreciating the quality of our Australian owned/made rod & bar products while spending time behind them
if only Bluescope bought out its former brother at a realistic market price and with their smart management team coupled with the 1.8 bill tax credit , all would be a winner
ARI Price at posting:
2.2¢ Sentiment: None Disclosure: Held
