Sinodinos

[donnashuggy]

What is your favourite article so far? I like to be entertained by what I read and this pretty good

http://www.theage.com.au/comment/no-martha-defence-for-arthur-sinodinos-20140321-358cd.html

Do you think the name Arfur might stick?  I love it.

[boris1gary]

http://www.canberratimes.com.au/comment/arthur-sinodinos-dazzled-by-his-dreams-20140404-364d4.html

Sir Arfur?

Sinodinos was powerful in the Liberal Party, some shareholders and board members were big donors and friends of senior Liberals, and phone calls to Macquarie Street were always answered. Just to make sure, a squad of former elected members, now lobbyists and party organisation figures, were put on the AWH payroll, some with the prospect of handsome success fees if they could get the PPP idea off the ground. This, not trivial arguments about remuneration of expenses, was to Sinodinos the main game - really the only game.

Even Santo Santoro, a player in Queensland Liberal affairs, wanted to get his snout in the trough by introducing AWH to the powers that be in the Newman government.

Sinodinos, arguing his case, did not have to disclose that he stood to make a big quid if the deal went through. Or have to emphasise how many fingers he had in the political pie. People would have understood that he had an interest, he says. But his mission was to persuade politicians that it was good idea for the public interest - a win for the public, a win for AWH. That's what wins arguments with politicians.

For Sinodinos, it is now impossible to see it ending with further executive political office. No one will say it directly to him - they hope he will see it himself - but he would be better out of the game altogether. Perhaps heading a charity, or something, until AWH is so long forgotten that Abbott can give him a knighthood. Or something.

[monman12]

It would appear (that for once) the ALP is well ahead of the Coalition, in  criminal convictions and pending ones. If this keeps up the ALP will have to have another recruitment drive, or possibly endorse the launch of an  ALP prisoners union !

Looks like Shorten (who?) has  noticed how popular the ALP are, and has decided that the "must be a union member" to join the ALP"  should be defunct.  Perhaps because there are a few ALP luminaries with criminal convictions, and anyway,  who would wish to join the CFMEU  just to become a member of the ALP,  when the CFMEU have a conviction for criminal contempt.

Meanwhile B!G, Sinodinos is just a witness,  and your  ALP luminaries are convicted criminals.

nɥºɾ

[boris1gary]

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@monman12 wrote:

It would appear (that for once) the ALP is well ahead of the Coalition, in  criminal convictions and pending ones. If this keeps up the ALP will have to have another recruitment drive, or possibly endorse the launch of an  ALP prisoners union !

Looks like Shorten (who?) has  noticed how popular the ALP are, and has decided that the "must be a union member" to join the ALP"  should be defunct.  Perhaps because there are a few ALP luminaries with criminal convictions, and anyway,  who would wish to join the CFMEU  just to become a member of the ALP,  when the CFMEU have a conviction for criminal contempt.

Meanwhile B!G, Sinodinos is just a witness,  and your  ALP luminaries are convicted criminals.

nɥºɾ

---

The answer is SINODINOS.

[boris1gary]

http://www.abc.net.au/news/2014-04-07/verrender-heard-the-one-about-the-bankers-and-the-inquiry/5371...

Heard the one about the bankers and the inquiry?

If the Government's wide-ranging inquiry into the financial system wasn't so serious, you could dismiss the whole thing as a bad joke, writes Ian Verrender.

Talk about a laugh...

Yet another key witness emerged from the ongoing theatre that is NSW's Independent Commission Against Corruption last week barely able to contain himself.

This time it was former assistant treasurer Arthur Sinodinos, who exited Cheshire cat-like from proceedings, offering to buy everyone a coffee. Well, not exactly everyone. Funds, after all, are limited on a senator's salary.

Psychologists for years have been attempting to unlock the secrets to human happiness. Judging from recent anecdotal ICAC evidence, they should examine the links between poor memory and mirth.

Still, not everyone, it seems, is unhappy about Sinodinos's predicament. As the honourable Senator desperately tried to shake off the persistent odour emanating from his time in the effluent business, it provided a welcome distraction from the furore over financial advice, commonly known as the affluent business.

Ever since Mathias Cormann took control of the portfolio - immediately suspending a decision on whether to "reform" the reforms to financial advice legislation until after the Western Australian Senate election re-run - many in the banking and financial services industries have begun to breath just a little easier.

It is not that they had difficulty breathing in Sinodinos's presence. Far from it. Along with his involvement in all things aqua, he spent a few profitable years in the banking industry during his political sabbatical, working for Goldman Sachs and then the National Australia Bank. He spoke their language. He understood their concerns.

But they had become alarmed at the community backlash to the changes and the way Sinodinos botched the program, particularly given the new Government, in opposition, had proposed a wide-ranging inquiry into the financial system that had the potential to get way out of hand.

Upon his elevation to the opposition front bench, in charge of financial services, Sinodinos shifted from being a door opener,as he last week described his role in the water business, to having his door wide open.

Once upon a time it was a one-way street for politicians. When booted out of office, they usually attempted to parlay their connections to desperate clients in return for cash. Disturbingly, the lines of accountability have become blurred even further these days.

In Sinodinos's case, the seamless evolution from political analyst and top level prime ministerial advisor to lobbyist and industry player and then back to high office has exposed what should be a fundamental flaw in the Australian political system.

But no one seems to care about conflicting interests anymore. And Australia's heavily concentrated and hugely powerful financial services industry has exploited this, and, in the process, become accustomed to getting what it wants.

The campaign to unwind key parts of the previous government's FOFA legislation was funded and prosecuted largely by Australia's big banks, through its various lobby groups.

The bankers themselves preferred to keep their heads down.

Of the 57 comments submitted to the Government on the proposed winding back in consumer protection, seven applicants requested anonymity. Unsurprisingly, no matter how hard you search, you won't find a document from the big four banks and AMP - the biggest players in retail superannuation and financial advice. At least, they were not among those available to the public.

The legislative changes proposed by Sinodinos, which are likely to be back on the agenda once the WA Senate elections are out of the way, are unashamedly aimed at boosting bank profits. If the changes are implemented, financial services companies no longer will be required to act in their clients' best interests at all times.

[spotweldersfriend]

Maybe Arfur will end up being the liberal party's Oliver North to save a few others.

[monman12]

"Well Sinodinos does have the whiff of rotten fish about him."

Gosh B1G, where does that place the ALP on a  odoriferous scale, with their  current criminal luminaries?, and Sinodinos being just a witness, who you are desperately  attempting to  "convict" from years ago, for what ?.

It would seem that Shorten (who?) has decided that the ALP need more members (after the WA election figures!),  understandable with the upper echelon being "entertained at her majesties pleasure" ( in the slammer!)

nɥºɾ

[freshwater-2]

Sinodinos's reputation has gone down the gurgler.

He is finished.....and in disgrace.

It was all  his own doing as a wtness at the enquiry.

Nobody else......just him.

[boris1gary]

monman12, the answer is? SINODINOS

[monman12]

"monman12, the answer is? SINODINOS".  

Not the alleged bad  naughty witness B!G from a few years ago?

How scary would  he  be B1G,  when compared with the convicted criminal ALP luminaries from the presen?, and not forgetting the  caring and gentle  CFMEU  with their criminal contempt conviction..

There seems to be an ALP  trend emerging: steal some, or  bash some.

nɥºɾ

[boris1gary]

Some crackers from the Arfur Show......

At last, I remember.........ohhh I just forgot again,

http://www.news.com.au/national/icac-inquiry-arthur-sinodinos-account-of-his-time-with-australian-wa...

Counsel Assisting Geoffrey Watson, SC, later asked: “Did you know at the Liberal Party in your capacity as treasurer that Australian Water Holdings was making donations to the Liberal Party?” Mr Sinodinos replied: “Not that I can recollect.”

Mr Sinodinos had to admit that as Australian Water Holdings’ chairman he did nothing about executive salaries at the firm, which had been $1.6 million for the former chairman John Rippon and $1.1 million for CEO Nick Di Girolamo, even though the firm only had about 10 employees.

Asked what he thought of Mr ­Rippon’s salary, Mr Sinodinos said: “well, it depends what you’re ­comparing it to.”

Watson: “I’m going to compare it with what I’ll call the real world.”

Mr Sinodinos, who stood aside as assistant federal treasurer for the proceedings of the corruption inquiry into AWH, confirmed to the ICAC yesterday he had been one of those who charged Sydney Water more than $28,000 in three years on chauffeured cars while he was at the company.

http://www.echo.net.au/2014/04/senators-ignorance-obeid-stake-just-doesnt-wash/

On the amount of work Sinodinos did for his $200,000 annual salary as a non-executive at AWH, Watson asked whether a dinner-time conversation with a Leighton executive might be included, say: ‘Ninety seconds over a gin and tonic?’

Asking what concerns were raised at one meeting, and drawing a blank, Watson cracked: ‘Did you just gaze into each others’ eyes?’

In his defence, Sinodinos told the commissioner he took a ‘softly softly approach’ as chairman of AWH and wanted to ensure, in its dealings with Sydney Water, the company did not ‘throw the baby out with the bathwater’.

The baby, the thing that, by his own evidence this morning, excited Sinodinos and originally drew him to join AWH, was the public-private partnership (PPP) the company was hoping to reach with Sydney Water, to provide infrastructure in Sydney’s North West Growth Centre, which would have seen him make up to $20 million.