You have made these suggestions before when Ms MacTiernan has come under fire. The ABC and Mr Redman have done the right thing in looking into this. The whole situation is completely inappropriate and should be investigated. Doubt it will though.
Shareholders have a right to disclosure on the ASX. Taxpayers have a right to ensure that their money is being well spent. When a government gets behind a project, it sends a message to market that they endorse and support it. When that said government has not done their due diligence and they are being driven by their ties and relationship to a business (that they are supposedly independent off) then it should rightfully come under scrutiny.
When punters buy into a company through shares thinking a government is underwriting that project only to find out that the government hasn’t followed normal practice and has gone against best advice and hasn’t followed rigour in making investment decision, then that government is complicit and is accountable for the punters losses when it falls over.
CCE will never stop the fires. This is not some conspiracy by fossil fuel lobbyists to close down the wave market. You have drawn a long bow to tie these serious matters to this charade being played by CCE and the WA government.
At the end of the day this is just good old fashioned corruption and I applaud the ABC for flagging it.
CCE Price at posting:
0.2¢ Sentiment: None Disclosure: Held
