Dubious disclosure record by regulators

It was just last night I was discussing with someone why we shouldn't have taxation. Taxation = coercion = no accountability. More surprisingly still is when a journalist does some critical thinking, so my hat goes for to Michael West at the Sydney Morning Herald. If only they gave his looser deadlines so he could do some investigative journalism, so he might have exposed this story before the failure of yet another financial services company. See ASX & ASIC Disclosure.

I am well versed with the ASX's lack of interest in disclosure rules or guidelines, so it does not surprise me that they should have slipped up. I have just one experience dealing with ASIC. I registered a complaint against a company CEO for misleading the market in an attempt to raise capital. ASIC said there was no case to answer. I suggest because the evidence was not conclusive enough. The problem is that few resources are going to regulating compliance because it all goes on welfare statism which includes corporate subsidies as well. So in this case the best I could do was make this CEO hyperventilate at the company AGM. I doubt that will slow him down. He struck me as the type of guy with friends in the right place.

What a turgid, fascist world we live in....never mind the rhetoric that we have never been freer. The animal has just changed its chamouflage.
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Andrew Sheldon www.sheldonthinks.com