Don’t always think the labour party have the interest of the individual at hand… This bill also did effectively act as an incentive for banks to provide unsecured credit to a suspect organisation on the provision they feel they could recover the risk of their funding through liquidating the assets. I think it should of gone further to means test creditors who provide unsecured funding (i.e. CBA to Arrium) meaning an organisation of that size dumb enough to provide that much unsecured debt should be seen in the same light or below shareholders because a means test is in place based on the size of the creditor if that makes sense (i.e. mum and dads paint supplies with net assets < $5m rank above shareholders and CBA with net assets WHATEVER BILLION are not entitled to the exemption and therefore rank below shareholders). Not much thought to employee share schemes either (i.e. the mums and dads who salary sac their income over years for shares).
ARI Price at posting:
2.2¢ Sentiment: None Disclosure: Held
