tag:blogger.com,1999:blog-24338064.post1132952744923401971..comments2024-02-11T19:28:27.997+11:00Comments on Personal Reflections: Saturday Morning Musings - the burden of complianceJim Belshawhttp://www.blogger.com/profile/10075614280789984767noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-24338064.post-19688143475648565682008-05-27T06:05:00.000+10:002008-05-27T06:05:00.000+10:00Glad you liked the meal, David. I share your react...Glad you liked the meal, David. I share your reactions on the cases you cite, although I would interpret them a little differently. <BR/><BR/>You wrote: "So, if not abolished then at the least ignored, and at morally worst, subverted." This drives to the heart of the matter. I think that I will take the points you raise and explore them in a further post.Jim Belshawhttps://www.blogger.com/profile/10075614280789984767noreply@blogger.comtag:blogger.com,1999:blog-24338064.post-10206020817336568332008-05-26T17:57:00.000+10:002008-05-26T17:57:00.000+10:00JimI suspect like you I am most very tired of this...Jim<BR/><BR/>I suspect like you I am most very tired of this tripping over just-in-time regulation (usually just that bit too late to make any difference, and always so politically expedient).<BR/><BR/>Compliance requirements abolished? - I would offer firstly Opes Prime.<BR/><BR/>While the ANZ Bank is my bank - and I have been served very well for many years by that association - I fail to see just how the ASX regs requiring significant holdings were ?waived? in the case of the now not insignificant holdings claimed by ANZ.<BR/><BR/>And just how a further loan of $90M gathered into their clutches securities said to be worth $700+M (thus covering their other exposed position/s) also fails the test of 'truth and fairness' to my mind. <BR/><BR/>Never mind - and I have no pecuniary interest in this by the way.<BR/><BR/>For a second proof of compliance requirements being abolished I suppose I could always drag (dredge?) up poor old David Hicks. <BR/><BR/>Despite my reservations at his (reported) actions, I have always felt it a good principle that a law should be in place before it is deemed broken and prosecuted - however ineptly (broken or prosecuted).<BR/><BR/>And read up on Wollongong height restrictions - (buildings) - and balance that against how low some of our 'civic leaders' will stoop.<BR/><BR/>So, if not abolished then at the least ignored, and at morally worst, subverted.<BR/><BR/>And I enjoyed your 'Australian dinner' - could taste the tastes. Wish I had your talents.<BR/><BR/>kvdAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-24338064.post-22633100209912045282008-05-26T06:36:00.000+10:002008-05-26T06:36:00.000+10:00Interesting line of argument, David. You comment o...Interesting line of argument, David. You comment on complinace caught my eye: do you actually know of an example where complinace requirements have been abolished?Jim Belshawhttps://www.blogger.com/profile/10075614280789984767noreply@blogger.comtag:blogger.com,1999:blog-24338064.post-142044261340918232008-05-25T17:57:00.000+10:002008-05-25T17:57:00.000+10:00JimIt seems to me that the basic problem/s you are...Jim<BR/><BR/>It seems to me that the basic problem/s you are grappling with is/are resolvable by the simple expedient of changing one's definitions of the problem/s. <BR/><BR/>(As an economist I am sure you will be familiar with this technique?)<BR/><BR/>Driver's Licence; Baby Bonus; Compliance Costs; Child Welfare.<BR/><BR/>Simple!<BR/><BR/>Issue all newborns with a driver's licence at the present cost of the Baby Bonus - revenue positive!<BR/><BR/>Redefine 'child' to be that age which is (statistically) the least expensive grouping. Moving average, of course, but I'm thinking maybe 35-45.<BR/><BR/>Compliance costs are a result of compliance requirements. Eliminate or reduce compliance requirements, and see the costs fall.<BR/><BR/>You are thinking I jest?<BR/><BR/>My driver's licence at birth idea is, I think, original. As for the rest - we live under this regime at present.<BR/><BR/>kvdAnonymousnoreply@blogger.com