A bit rich – oh?

Writing in the Australian today, former Senator Graham Richardson suggest that:

The only way to end all speculation and corruption with donations is full public funding of election campaigns. It is big bucks and bound to be unpopular so would no doubt require bipartisan support.

The only way?  How about having better quality people in the political “system”?  How about having a political culture where it is the people first and the party second?  How about politics is not about whatever it takes.

But hey.  Maybe Richardson made a mistake.  You know, like this little ditty as reported in the AFR.

On December 6, 1994, Richardson, who had retired from politics eight months earlier, faxed hand-written instructions to the manager of his account, called Streeton Foundation, at Swiss finance company EBC Zurich.

Richardson was a political operator without parallel but a novice to the world of high finance. Did he get the details wrong?

“Ref Streeton Foundation,” Richardson wrote.

“Please pay value 30 December 1994 $A1.0 mill as per separate instructions [from the account at EBC Zurich]. Graham Richardson 6-12-94.”

The handwriting, in documents obtained by Israeli journalist Shraga Elam, is clear. What happened to Richardson’s money next isn’t.

EBC records, revealed by The Australian Financial Review in 2009, show the money was transferred on January 5, 1995, to Dennis Jamil Lattous in Beirut.

According to a new book, that was the wrong name. Somewhere during the transmission of Richardson’s other instructions an “f” became an “s”.

The money ended up in the account of Dennis Jamil Lattouf, whose family is a business partner of former Labor powerbroker Eddie Obeid, according to journalists Kate McClymont and Linton Besser in their new biography, He Who Must Be Obeid, launched on Wednesday.

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23 Responses to A bit rich – oh?

  1. egg_

    How would that change “Aldi bags” full of cash, Richo?

  2. Mother Lode

    It is big bucks and bound to be unpopular so would no doubt require bipartisan support.

    Let’s look at that again.

    He knows the people don’t want it, but he knows away for democratically elected representatives to get around what the voters want.

    The best bits of Richo have been tossed over the years into buckets in different surgical theatres as biowaste.

  3. Dr Faustus

    The only way to end all speculation and corruption with donations is full public funding of election campaigns.

    An excellent way to drive corruption off the balance sheet and into the shadows.

    “Oh look, I happen to have this thriving business registered in St Nevis and Kitts – private, of course, but I’m looking to take it public in the next few years. I suppose you wouldn’t happen to know of a suitable candidate for a director?”

    The increased transaction costs mean the sling and the favour have to be a bit bigger.
    But, whatever it takes…

  4. Dr Fred Lenin

    Was it the money he , Rivkin , Bill Heydon and other alp li[uminaries got from the overinsured printing company they bought and insured with Turnbulls mate Adler the thief ? I believe it mysteriously burned to the ground shortly after the policy kicked in . Rivkin got scammed by a clever Swiss whichexposed _ the scam ,Rivkin shortly afterwards . Rivkin topped himself ,convenient the only non alp partner dying like that wasnt it ? . Pity Hercules Poirot hadnt had the case ,would have been interesting . Good enough for a thriller .

  5. Damienski

    Elections campaigns are already funded by the taxpayer. Political parties get paid for the votes they attract. Results-based.

  6. Tel

    The only way to end all speculation and corruption with donations is full public funding of election campaigns.

    That would be institutionalizing the corruption. Yes we could stop speculating about it … but it’s not as if there is any doubt right now … is there?

    How about we try some jail for the people who got caught … see how much that sorts things out.

  7. Empire 5:5

    The only way to end all speculation and corruption with donations is full public funding of election campaigns. It is big bucks and bound to be unpopular so would no doubt require bipartisan support.

    Liar.

    The age of the political establishment is coming to an end and the greaseball if angling to lock in a perpetual slush fund for the mates.

    I’ll give him (and his special mate PJK) one thing: he knows how to play the long game, but he long ago booked himself a hayride to hell when the reaper calls.

  8. Empire 5:5

    A heavily superannuated Senator is proposing to make legal the act of MPs stealing the hard earned of half the working citizenry (and guest workers) and use it to buy media access to deliver targeted propaganda to the other half of the voting populace, imploring them to eat the rich.

    Let that sink in.

  9. Buccaneer

    If the people in politics can’t be trusted to do the right thing with donations, how can they be trusted to do the right thing with everything else?

  10. Dr Fred Lenin

    Defund all political gangs eh sorry,parties ,maximum donation $10 per person or organisation, mandatory 10 to 30 years prison for breaches of donation laws and confiscation of all family assets .
    Let them drown in their own filth and lies ,those anti Brexit traitors should be in the Tower awaiting the headsman ,political career filth is endemic in the West.+

  11. Terry

    Any Australian Citizen or Company with 50%+ Australian ownership (even developers) to be able to make a non-tax-deductible donation to any political candidate or party of their choice, so long as it is reported in real-time to the AEC (for everyone/anyone to see).

    Tax the unions and prevent any other political organisation from masquerading as a charity/not-for-profit (looking squarely at you Getup).

    Discontinue the reimbursement of expenses from public funds.

    Disqualify any candidate found to be receiving funds from other than Australian Citizens and Companies. (even after they have taken up their elected position – just like not declaring dual-citizenship).

    Any systemic abuse of the system (eg ALDI bags of cash) to be given real prison time.

    I reckon that might be ONE other way (of possibly many) and therefore giving lie to the good ex-Senator’s assertion that his attempt to make respectable the systematic theft of public monies is the only way

  12. Empire 5:5

    All donations (inc. in kind) disclosed on free access public register. Donations only by individuals (no bodies corporate) with proof of electoral enrolment.

    Fixed.

    Now let’s talk about term limits.

  13. Empire 5:5

    Any systemic abuse of the system (eg ALDI bags of cash) to be given real prison time.

    No.

    Electoral fraud must be a capital offence. It is an act of war against the people. There must not exist the illusion of franchise. The penalty must be severe and enduring.

  14. Tel

    Any systemic abuse of the system (eg ALDI bags of cash) to be given real prison time.

    Start with that bit … since we ALREADY have plenty of laws that were known to be broken … throw the book at them.

    If we can’t enforce existing laws then forget about any new laws.

  15. rickw

    The only way to end all speculation and corruption with donations is full public funding of election campaigns. It is big bucks and bound to be unpopular so would no doubt require bipartisan support.

    Bribery of Australian politicians is no longer funded by property developers, it’s funded by other nations for their own ends.

    The solution is to re-introduce the death penalty for treason, and to start exercising it.

  16. Karabar

    Mother Lode, are you saying that when they circumcised him they threw away the best part?

  17. Howard Hill

    @ Karabar.
    LOL!
    You reckon he had a best part?

    @ rickw.
    +∞

  18. Tintarella di Luna

    There is no art which one government sooner learns of another than that of draining money from the pockets of the people

    Liberty Quote

  19. max

    by Mark Twain

    “There is no distinctly native American criminal class except Congress.”

    “Fleas can be taught nearly anything that a Congressman can.”

    “Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.”

    “An honest man in politics shines more there than he would elsewhere.”

    “All Congresses and Parliaments have a kindly feeling for idiots, and a compassion for them, on account of personal experience and heredity.”

  20. Lazlo

    “If you don’t read the newspapers you are uninformed. If you read the newspapers you are misinformed”.

    MT

  21. Win

    DFL The embers from the Off Set Alpine fire keep reigniting . Some one, I don’t know who ,rang around for people to collect jobs. Some one knew it was going to happen.

  22. Bunyip Bill

    They want us to fiddle with their d..ks at both ends. We allready pay them for every vote they recieve after the election , now they want us to pay before the election in case they don’t get a vote.

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