How mortgage brokers corrupted Hayne in record time

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Via the AFR:

…For months, brokers have phoned the offices of federal politicians, fired off angry emails and held town-hall style meetings to berate MPs for an attack on their livelihoods after both sides promised to implement most of the commission’s recommendations on broker pay.

At the same time, TV personality Bouris, a business ally of the Prime Minister whose financial advice firm Yellow Brick Road collects $53 million annually in trailing commissions, personally lobbied Scott Morrison and Frydenberg to reverse the government’s earlier pledge to adopt Hayne’s recommendation.

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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.