23 May 2009

Reserve Bank blind to conflict of interest

The Reserve Bank of Australia has a problem, but doesn't know it.

Its assistant governor, Robert Rankin, is involved with a company that has been linked to shady deals (Africa and Asia) overseas. Worse, that company supplies polymers (used to make money) to the Reserve.

Wait. There's more. Another two Reserve Bank appointees are also linked to the company.

Is there any acknowledgement from the Reserve there's a problem? Not a jot.

All the Bank says is that it will ask the company, Securency, about its methods.

Am I missing something?

1 comment:

oceanswims said...

I thought the Fairfax story was thin indeed. Not much to respond to, apart from saying they would look into it. Their response was proportionate.

Fairfax has this annoying habit of getting excited about not very much, then wondering why others don't get just as excited as them. Probably because their view is limited to the cafes and restaurants of the CBD and the inner west in Sydney.

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