Why ASIC is so protective to the MIS crooks who had destroyed up...

Why ASIC is so protective to the MIS crooks who had destroyed up to $10B of the wealth of this country?

Here may be the answer: All those MIS projects were approved by ASIC.

http://www.glgroup.com/News/Forestry-and-MIS-Projects-In-Australia-42806.html

Quote from the above aricle:

"In Australia, MIS schemes are put (the) through the government regulator known as the ASIC (Australian securities and investments commission) Before a forester can ask for public monies for MIS scheme, 2 things must happen

"1) ASIC approves of the MIS scheme under the Managed Investments Act and

"2) the Australian Taxation Office approves of the product known as the Product Ruling so that investors / growers are legible to claim an upfront tax deduction for their investment into the MIS Scheme."

This explains why ASIC might never bring these MIS crooks to justice, if there were no tremendous pressure from externals such as the victims.