Sad thing is ASIC has just about enough competence to piss...

Sad thing is ASIC has just about enough competence to piss around in the kiddy pool - no more.

Sure, to show they're not entirely moribund, they issue proforma paperwork, and once in a while hit some irrelevant small fry for pulling some ineffectual nonsense...

BUT when the big boys makes easy, sleazy multi-millions, blatantly manipulating and shorting shares, milking valuable investment capital away from productive Australian enterprise, using servers directly connected into the ASX, ASIC sits frozen like a spotlighted rabbit.

Never mind if they can't swim, let alone compete with sharks in the deep end.... the staff there have a cushy, stress free life on Public Sector terms.