You may also like to ask the ATO who’s watching the perps? Especially as they are downgrading the Serious non-compliance surveillance team. They have disbanded the ST in Qld altogether. The team has had heavy involvement in Wickenby as well as other tax fraud, especially tobacco and more recently GST.

Share trading volumes dropping, ML (who have been hit by Lehmans and Opes/Lift Cap failure) now taken over by Bank of America, Fortis now 50% owned by various European banks. What does the future hold for Third Party Clearing in Australia? Who is going to be able to raise $10m is this market to be able to clear ASX trades?

Today was supposed to be the day the long-awaited NT Emergency Response Review released it’s report, outlining recommendations for the Rudd Government – what’s hot and what’s not in terms of measures inherited from Howard that should be kept or tossed. Obviously many in the communities affected are eager to hear the results. We’ve heard, worryingly, over the past weeks that the Report may not be released publicly. We have been pressuring the Secretariat of the Review Board to release the Report publicly, and know others have been pressuring them and Jenny Macklin too. The Secretariat’s position is that ‘the decision will be made by the Minister when she receives the report as to whether it will be made public’. Yesterday Macklin, due to make that decision, announced the Review Board hadn’t finished yet and needed to delay the release until mid-October. Could it be the Minister sent the Report back because it contained recommendations that weren’t palatable? We can’t see a good reason why the public can’t know the truth – about the delay or what’s in the Report.

Peter Fray

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