Labor demands bail-outs for all “critical businesses”

Labor clearly has not heard of the term “moral hazard”, which is defined as “a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party [Australian taxpayers] will incur the cost”.

Labor has already demanded that Australian taxpayers bail-out:

• industry superannuation funds that invested too much in illiquid assets;
• universities that became over-exposed to international students, and wasted the tens-of-billions in fees received;
• temporary visa holders that came to Australia on the condition that they would support themselves; and
• Virgin Australia.