The regulatory assault upon bubble psychology is unremitting today. ASIC is going full bore:
Australian Securities & Investments Commission chairman Greg Medcraft, who is coming to the end of his seven-year tenure as the head of the corporate watchdog, said watching the local property rush was “like groundhog day”.
He urged regulators and banks to be vigilant about responsible lending standards, which he said had been overlooked amid surging prices in the Sydney and Melbourne property markets.
