RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Whatever the OZschwitz statists touch, turns to shit: Watchdogs are no longer tough cops on the beat on white collar crime Mon Feb 23, 2015 1:21 am | |
| When it comes to corporate regulation in this country there are one set of rules for the top end of town and another for the rest. The rest, put simply, are expected to obey the law.
It was the quintessential case of bayoneting the dead last Thursday when the Australian Securities & Investments Commission (ASIC) declared a record $19 million penalty had been imposed on dodgy payday lender The Cash Store.
However, nobody from The Cash Store, or its funder Assistive Finance, bothered to turn up to court for the penalty hearing. The Cash Store was already in liquidation and AFA could not be served with legal documents as it no longer had a registered office, directors, or solicitors.
"Bragging about fining a company in liquidation is like fining an inmate on death row," tweeted David Easton, a victim of the move by Commonwealth Bank to shut down BankWest's commercial loan book during the financial crisis.
Read more: http://www.smh.com.au/business/watchdogs-are-no-longer-tough-cops-on-the-beat-on-white-collar-crime-20150222-13lira.html#ixzz3SXwo6aXd _________________ Anarcho Capitalists Retail , OZschwitz Downunder BoutiqueAnarcho-Capitalists,AnCaps Forum,Anti-State,Anti-Statist,Inalienable Rights Defenders,Non-Aggression Principle,Non-Initiation of Force Principle,Rothbardians,Anarchist,Capitalist,objectivism,Ayn Rand,Anarcho-Capitalism,Anarcho-Capitalist,politics,libertarianism,Ancap Forum,Anarchist Forum,Vulgar Libertarians,Hippies of The Right,Forum for Anarcho-Capitalist,Forum for Anarcho-Capitalists,Forum for AnCap,Forum for AnCaps,Libertarian,Anarcho-Objectivist,Freedom, Laissez Faire, Free Trade, Black Market, Randroid, Randroids, Rothbardian, AynArchist, Anarcho-Capitalist Forum, Anarchism, Anarchy, Free Market Anarchism, Free Market Anarchy, Market Anarchy
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