Sounds like the ENRON of Australia

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Sounds like the ENRON of Australia

Post by >THE Ben Reilly< on Fri May 31, 2013 10:26 pm

Profit above all else: how CBA lost savings and hid its tracks

When a group of Commonwealth Bank employees agreed to meet in October 2008, they settled on the Buena Vista Hotel in Sydney's Mosman, a place they could huddle incognito to hatch a plan that would change their lives forever.
By the end of the lunch, the men had agreed to become whistleblowers, using the pseudonym the "ferrets" to tip off the corporate regulator about the goings-on at CBA's financial planning arm, specifically one of the bank's top financial planners, Don Nguyen, who had worked for the bank since 1999.
Five years on, one of the whistleblowers is dead after passing away in his sleep at 35. The second, the ringleader, has agreed to go public to warn of the perils of being a whistleblower after leaving the bank earlier this year. The others still work in the industry but want to remain anonymous to avoid the backlash of being a "dobber".

http://www.smh.com.au/business/profit-above-all-else-how-cba-lost-savings-and-hid-its-tracks-20130531-2nhde.html#ixzz2UuLrhDey

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Re: Sounds like the ENRON of Australia

Post by veya_victaous on Mon Jun 03, 2013 12:07 am

Well ENRON going down first basically covered our banks asses and they could blame any losses on GFC. I don't doubt most of the world banks were doing it was just a case of waiting till one of them became undone by their greed.

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