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 Whatever the OZschwitz statists touch, turns to shit: Watchdogs are no longer tough cops on the beat on white collar crime

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RR Phantom

RR Phantom

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Whatever the OZschwitz statists touch, turns to shit: Watchdogs are no longer tough cops on the beat on white collar crime Vide
PostSubject: Whatever the OZschwitz statists touch, turns to shit: Watchdogs are no longer tough cops on the beat on white collar crime   Whatever the OZschwitz statists touch, turns to shit: Watchdogs are no longer tough cops on the beat on white collar crime Icon_minitimeMon 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.

Whatever the OZschwitz statists touch, turns to shit: Watchdogs are no longer tough cops on the beat on white collar crime Article%20Lead%20-%20wide6650911013lr3iimage.related.articleLeadwide.729x410.13lira.png1424601012957.jpg-620x349

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
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Whatever the OZschwitz statists touch, turns to shit: Watchdogs are no longer tough cops on the beat on white collar crime

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