Tag: Failure

Sharemarket Stock broker collapse traps $200m from thousands of investors

Halifax's clients invested in equities in Australia and other markets and a range of derivative products.

Stock broker collapse traps $200m from thousands of investors

The demise of Halifax Investment Services has led to the assets of  12,000 accounts being frozen as administrators figure out what went wrong.

“Halifax was the subject of an enforceable undertaking with ASIC in 2013 following regulatory action by the Australian Securities and Investments Commission over a slew of concerns about the operations of the business.”

It’s not the first time

When Corporations go to the wall it’s the the “free market” when the economy is rocked it’s the the “free market”. When the economy is on the rise it’s Liberal” good management,” When unemployment is rising it’s the “free market” When welfare is cut it’s Liberal “good management”. Someone seems not to have a clue when 12,000 investors are seperatedfrom their money. (ODT)

The end of civilisation? | The Monthly

Above is yet another example of Tony Abbott’s approach to ‘expert respectability’ $500,000 for ‘no advice’ in 2 years. Perception is all that counts. (ODT)

It was, declared The Australian’s resident theologian Greg Sheridan, “a pivotal moment in modern Australian history”. Was Sheridan referring to the arrival of the First Fleet, perhaps? The end of transportation? The celebration of federation? The landing at Gallipoli? The victory in the Coral Sea?

No, none of the above – something far more important: the Australian National University’s decision to end negotiations to establish a partnership with the Ramsay Centre for Western Civilisation. According to Sheridan, the university’s decision means that intellectual freedom at our universities is now imperilled.

This is hyperbole beyond the wildest imagination of even Gerard Henderson, but it shows just how seriously our national newspaper and its right-wing commentariat is fighting its culture wars. What was originally a minor controversy in academia has been blown up into a crisis of apocalyptic proportions. The Monthly

Western Civilization IS being taught at ANU, however, donor bribery such as the Ramsay Centre’s attempt isn’t being given the privilege to run its own tertiary course under the auspices of the ANU.  The Ramsay Centre is trying to buy interloper rights to their own specifications taking them outside the bounds of what it is the ANU represents. Tony Abbott is on the board of the Ramsay Centre trying to do what he did with Dr Bjorn Lomborg’s Copenhagen Center (which has nothing to do with Denmark)  to try to bribe Australian Universities to take on board and give legitimacy to his personal political bias on anti- Climate Change. All he was trying to do is provide respectability for a failing argument that was already being debated anyway. He failed and here he is repeating the same stunt. (ODT)

When one of his carefully selected directors, Tony Abbott, said the Ramsay Centre would be not only about Western civilisation but in favour of it and would have a say over curriculum design and staff appointments, he was merely following the script.

But of course the influence was supposed to be covert, not trumpeted in Quadrant – the idea was that the proposed centre could be justified within the umbrella of academic independence and autonomy, when in fact it could not. The Monthly

The end of civilisation? | The Monthly

Scapegoating Iran


Mr. Fish / Truthdig

NEW YORK—Seventeen years of war in the Middle East and what do we have to show for it? Iraq after our 2003 invasion and occupation is no longer a unified country. Its once modern infrastructure is largely destroyed, and the nation has fractured into warring enclaves. We have lost the war in Afghanistan. The Taliban is resurgent and has a presence in over 70 percent of the country. Libya is a failed state. Yemen after three years of relentless airstrikes and a blockade is enduring one of the world’s worst humanitarian disasters. The 500 “moderate” rebels we funded and armed in Syria at a cost of $500 million are in retreat after instigating a lawless reign of terror. The military adventurism has cost a staggering $5.6 trillion as our infrastructure crumbles, austerity guts basic services and half the population of the United States lives at or near poverty levels. The endless wars in the Middle East are the biggest strategic blunder in American history and herald the death of the empire.

via Scapegoating Iran

The Unmitigated Failure of the Iraq War

It has been 15 years since OIF, and there – in Iraq and Syria – US servicemen remain, wedged between Saudi-backed Sunni Islamists, and Iranian-backed Shia militiamen. Some 4500 American soldiers have already died, with upwards of 30,000 more wounded. And, like a bad sitcom, the US military still spends most of its time fighting spin-off wars (Syria, Iraq 2.0, ISIS, Yemen) of the original Iraq disaster. That ill-fated farce of an invasion either created the conditions, or exacerbated the existing tensions, which inform today’s regional wars.

via The Unmitigated Failure of the Iraq War

Red Cross Built Exactly 6 Homes For Haiti With Nearly Half A Billion Dollars In Donations

This is crazy! So what did they do with the rest of the money? It didn’t trickle down!!

The Red Cross has failed massively in its promise to Haiti. After the devastating 2010

The Red Cross announced plans to build no less than 130,000 homes for survivors of the earthquake, many of whom were left with absolutely nothing.

There was a generous influx of relief from people all across the world, totaling half a billion dollars, but a series of bungling errors has led to the halted plans, while many doubt if the houses will ever be built.

via Red Cross Built Exactly 6 Homes For Haiti With Nearly Half A Billion Dollars In Donations