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Traders’ antics are no joke: we need a Royal Commission to get to the heart of the problem

The Australian Greens finance spokesperson, Senator Peter Whish-Wilson, said today that the “ugly spectacle” of Westpac and ANZ traders joking about their apparent rigging of the bank bill swap rate (BBSR) strengthened the case for a Royal Commission in the financial services sector.

Senator Whish-Wilson said, “Trader’s antics are no joke. This sort of callous disregard for the harm being caused reflects a deeper cultural problem at the heart of the financial sector.

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Forestry Managed Investment Schemes: $4 Billion more reasons for a Royal Commission

The Senate Economics Committee has today released its report into the collapse of forestry MIS in Australia, detailing the rise and fall of a $4 billion Ponzi scheme.
Greens spokesperson for Finance, Senator Peter Whish-Wilson, who initiated the inquiry in 2014, called forestry MIS “Australia’s GFC moment” and “an almost perfect reflection of the boom and bust in the United States mortgage market”.

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Defence cash splash obliterates future budget surpluses

Greens Defence and Finance Spokesperson, Senator Peter Whish-Wilson, has released analysis from the Parliamentary Library showing that the new Defence spending outlined in yesterday’s White Paper has obliterated future budget surpluses.

Senator Whish-Wilson said, “Scott Morrison’s and Mathias Cormann’s ‘credible path to surplus’ appears to have taken a detour via the South China Sea.

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