The Australian Securities and Investments Commission has requested information about the operation of the bank's "Chinese Wall" - designed to separate its advisory and research arms - ASIC chairman Greg Medcraft confirmed on Monday.
The 14-page report, originally titled "Bad for the budget, good for the state", was later reissued with the new title "Good for the state". The earlier version said the long-term lease of the state's "poles and wires" to finance transport infrastructure would "likely have a negative impact on state finances in the long run" as the government increased spending on infrastructure and lost revenue from the electricity assets.
UBS what is Good for the StateAttention is a finite resource. Everywhere it is harvested by advertisers. Searching for silence amid the cacophony of commerce? Good luck with that... E*ection in s*x Days
Darwin didn’t argue with politicians. But politicians tangle with him. Indeed, evolution is a litmus test: Do you stand with reason even if it costs votes?... No Bloody Way!
The Wall Street bonus pool for last year is roughly double the total earnings of all Americans who work full time at the federal minimum wage.
