Massive housing bust short, Wesfarmers, wants to blame everyone but itself. At the AFR today:
Wesfarmers chairman Michael Chaney put the cat among the pigeons on Thursday when he blamed the short-term focus of investors, analysts and the media for the misconduct in the financial system exposed by the Hayne inquiry.
Chaney sees a direct link between the relentless pressure on managers and boards of directors of public companies to meet consensus earnings targets and the bad behaviour in banks and wealth managers driven by short-term incentives.