James Shipton the worst ASIC Commissioenr ever: and there have been some priceless failures
Putting psychology experts into boardrooms is also part and parcel of the growing bureaucratisation in Australia. While we follow every move of politicians, we have taken our eye off the bureaucrats who are building empires on the back of increasing regulation. Most of this empire building happens away from parliament.
Unlike the private sector, where failing companies work out how to make money or shut down, regulatory bodies that fail at their job — in their case, to properly regulate — have no clear bottom line. They keep arguing if only they were bigger, they would succeed, drawing on taxpayers rather than their own pockets.
This is ASIC in a nutshell, a body that failed comprehensively to enforce its own rules and is now creating more rules, like putting a shrink in a boardroom to fix a problem that grew under its incompetent enforcement practices.
ASIC is becoming an acronym for A Silly Ideas Commission.
The link is: and well worth reading the rest!!! A full slam dunk...............