Australian governance sinks to new low

Finance Minister Mathias Cormann appeared at the ABC this morning to reiterate his objections to a CBA Royal Commission and again referred any investigation to David Murray who is heading the current financial inquiry, even though Mr Murray’s tenure at the CBA is relevant to any investigation. What’s he going to do, Mathias, interview the mirror? For some reason Chris Uhlmann let him get this away without question.

Get a load too of the description of ASIC in the program: venal, lazy, incompetent, lacking intellectual rigour and a basic impulse to satisfy legal obligations.

Truly a new low in Australian governance which, frankly, already occupies much of the national colon.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.