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Hypocritical Hockey should stop making ASIC his scapegoat and bring on CBA royal commission

Media reports of the Treasurer's party room attack yesterday on ASIC over the CBA scandal are the height of hypocrisy given the Government both removed $120 million of funding from ASIC in the May budget and are reluctant to bring on the royal commission into CBA behaviour recommended by a Senate inquiry.

"At the same time as the Government is cutting ASIC's budget, the Treasurer has the audacity to call for them to be a stronger regulator," said Australian Greens Senator Peter Whish-Wilson.

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Budget cuts outsource the investigation of white collar crime to the community

Greens spokesperson for Small Business, Consumer Affairs and Competition Policy, Senator Peter Whish-Wilson comments on statements by the Chairman of ASIC, Greg Medcraft that ASIC will have to rely on more whistle-blowers to come forward to remain effective with their massive budget cuts.

Senator Whish-Wilson says, “Only 7 years after the global financial crisis this government's ideological pursuit of deregulation knows no bounds.

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RBA, ASIC must answer to Parliament on corruption claims: Bandt

Adam Bandt 30 Sep 2013

Greens Deputy Leader, Adam Bandt, has called for an inquiry into the Reserve Bank of Australia following disturbing new claims of illegal approaches to Saddam Hussein's regime, as well as demanding ASIC explain why it is turning a blind eye to the RBA's corporate activities.

"Most Australians would be shocked to know their central bank was using their money to line up dirty deals with Saddam Hussein," said Mr Bandt.

"The stench surrounding the Reserve Bank gets worse and a full inquiry is needed to clear the air."

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