Discussion:
Criminal cartel charges - corporations and executives
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Pelican
2018-06-05 08:10:09 UTC
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The ABC media gives this -
http://www.abc.net.au/news/2018-06-05/criminal-cartel-charges-against-anz-citigroup-deutsche/9837368

The charges have been brought by the ACCC.

I don't know the specific charges, but a price-fix seems central.
Price-fixing is the key anti-competition behaviour of a cartel.

The drones in ASIC should be looking for other employment.
Lions Growl of Butchers Foul
2018-06-05 08:14:51 UTC
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Post by Pelican
The ABC media gives this -
http://www.abc.net.au/news/2018-06-05/criminal-cartel-charges-against-anz-citigroup-deutsche/9837368
The charges have been brought by the ACCC.
I don't know the specific charges, but a price-fix seems central.
Price-fixing is the key anti-competition behaviour of a cartel.
The drones in ASIC should be looking for other employment.
Nice work. I've met the two guys who run that unit. They are definitely serious people whom I wouldn't want to have coming after me.
The ACCC is one of the key institutions protecting our democracy, staffed by people who are well worth the pitiful salaries we pay them.
ASIC should be, too, but its current leadership should be lopped off in its entirety at about EL2 level.
Max
2018-06-05 09:42:22 UTC
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Post by Pelican
The ABC media gives this -
http://www.abc.net.au/news/2018-06-05/criminal-cartel-charges-against-anz-citigroup-deutsche/9837368
The charges have been brought by the ACCC.
I don't know the specific charges, but a price-fix seems central.
Price-fixing is the key anti-competition behaviour of a cartel.
The drones in ASIC should be looking for other employment.
Isn't anti-competitive behaviour the domain of the ACCC and not ASIC?
Pelican
2018-06-05 11:20:58 UTC
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Post by Max
Post by Pelican
The ABC media gives this -
http://www.abc.net.au/news/2018-06-05/criminal-cartel-charges-against-anz-citigroup-deutsche/9837368
The charges have been brought by the ACCC.
I don't know the specific charges, but a price-fix seems central.
Price-fixing is the key anti-competition behaviour of a cartel.
The drones in ASIC should be looking for other employment.
Isn't anti-competitive behaviour the domain of the ACCC and not ASIC?
Yes. But ACCC does what it's supposed to do. ASIC doesn't. There are
various suggestions to remedy the situation, including that ASIC be
abolished and ACCC take over its fuctions.

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