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Lex Greensill, Sanjeev Gupta, whoâd have guessed!
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Quite easily the most remarkable part of Greensill Capitalâs collapse is that it took this long. For years
Lex Greensill was warmly lit by newspaper profiles depicting the boy from Bundaberg ingeniously subverting the gravity of supply chain finance. It somehow failed to register that Babylonian traders used invoice factoring before Hammurabi had even built the walls around them.
Besides its spurious exceptionalism, the most suspect element of Greensill Capital was its entwinement with
Sanjeev Guptaâs equally irregular empire. It always looked like Greensill was assuming an extraordinary level of risk as primary lender â in effect â to a roll-up of industrial junk assets.
Phillip Frazer
You may have seen headlines last week about the argy-bargy in the Senate over a ‘cashless credit card’ system for paying income support. These are payments made by the Treasury to cover some or all living costs for people disadvantaged by disability, youth, old age, being a carer or a student, or unemployed or underemployed, and more.
Why this is in the news now is that the Morrison government wants that money, which has traditionally been paid into people’s bank accounts, to be paid instead to a private company called Indue. If you are in the system you’re supposed to use the Indue debit card to buy things, except it can’t be used anywhere that offers alcohol, drugs, or gambling.
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Statement – RIGHT HONOURABLE DOUG ANTHONY AC, CH
The Federal Executive of The Nationals have paid tribute to The Right Honourable Doug Anthony AC, CH who passed away earlier today.
As the Member for Richmond, the Leader of The Nationals and Deputy Prime Minister, Doug Anthony epitomised the values of the former Country Party and current Nationals through a thorough understanding of the challenges facing regional Australia.
Mr Anthony understood the need for strong rural and regional representation at the highest levels of government and was a fierce advocate for the opening up of new trade opportunities.
Doug Anthony would probably be most remembered for running the country as acting PM, when Malcolm Fraser was on holiday over the Xmas/New Year period, from a caravan on his beach block at New Brighton, NSW far north coast. As he said:
The last giant: Doug Anthony dead at 90
The last giant: Doug Anthony dead at 90
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DOUG ANTHONY: 1929 - 2020
The last giant of the Country and National parties, Doug Anthony, has died, severing one of the country s last remaining links to the Menzies government.
Mr Anthony, the nation s longest-served deputy prime minister who was a key player in the constitutional crisis of 1975 who also took important steps to modernise the then Country Party, died on Sunday aged 90.
Doug Anthony at his Sunnydale property in northern NSW soon after his retirement.
Credit:Peter Morris
His family confirmed in a statement that Mr Anthony died peacefully in the Heritage Lodge aged care home in Murwillumbah on the NSW North Coast which he represented as the member for Richmond between 1957 and 1984.