The boys club running our regulators and bureaucracy have been easily swayed to the will of their pals at the ASX. Naturally enough the government acquiesces to their combined voice.
It wouldn’t take too many stuff ups or the whiff of scandal for all of the above players to abandon the ASX to protect their own careers and reputations. With yesterday’s crash perhaps that process has already started. ASIC are already feeling the heat for their own problems so I doubt they are prepared to expend any political capital running a protection racket for the ASX.
If we want to accelerate that process perhaps the ALP Shadow Treasurer (Dr Jim Chalmers) could be used to throw some grenades. He has a PhD in commerce so should understand the issues and I’m sure he would enjoy causing mischief for the Gov.
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
