As some trading floor smarties head off for great Christmas, there are serious questions that entrepreneurs should be asking. COLIN BENJAMIN
By Colin Benjamin
How is it that the value of the economy can vary by hundreds of billions of dollars a day while thousands of households face a collapse in their value without any change in the number of people seeking new homes?
How is that the number of trading floor smarties are still heading for fantastic Chrissie presents while more and more smart companies are facing a crisis as their assets and required operating capital are frozen without notice?
Why is it that the big audit houses and financial institutions that are supposed to be there to protect public as well as private interests are only forced to reveal what they know after years of defensive litigation.
How are we to believe that the minimum conditions of a market economy – free and fully informed choices and access to venture capital – are present in the current crisis environment?
There are still cases being reported every day that highlight a lack of transparency in our financial system and out of court settlements and private deals being done.
What will it take to get the Government to demand that off-balance sheets, side deals, and fudged tax haven provisions need to be not only frozen but also banned.
On top of that we have the Cabinet and the major financial institutions in secret huddles doing deals while the funds of hundreds of small and medium enterprises are frozen because they are outside of the deals that have been done to bailout the money market manipulators.
Entrepreneurs, this is a time for action. Now is the time for the people who pay payroll tax and create jobs to get together and demand that the tax commissioner shifts the burden of the current crisis back to the sharemarket jockeys. Some are still making a fortune promoting historic levels of market volatility with a total failure to add any sense of truth, trust and transparency.
Dr Colin Benjamin is Entrepreneurship and Strategic Thinking Consultant at Marshall Place Associates, which offers a range of strategic thinking tools that open up possibilities for individuals and organisations committed to applying the processes of innovation, creativity and entrepreneurship. Contact: CEO Dr Jane Shelton.
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