Dear Members
The depth and breadth of the Senate submissions so far is quite astounding. As you would expect the bulk are aggrieved borrowers and investors who through the failings of ASIC to do the very job they were created to do, failed dismally which resulted in many borrowers facing financial ruin.
There is a huge cross section of Australian society involved, everyone from senior legal university academics, various law firms, business leaders, state and federal government agencies, banks, brokers, consumer groups and of course the multitude of victims and the list just keeps getting bigger.
There are definite patterns forming, as expected all state and federal agencies have circled their wagons and given ASIC the thumbs up to protect their public service brothers and sisters. The legal fraternity seem to favour them as well. I suppose whilst ASIC exists there will be plenty of work for them. Its quite obvious some submissions want to placate...