Wild mauling for Hayne

Daniel Wild tears Kenneth Hayne a new one this morning:

Far from being a disinterested arbiter of banking regulation, Kenneth Hayne’s comments about climate change have proven he is just another left-wing representative of the Canberra swamp and the wrong person to head the banking royal commission.

In justifying his remarks, Hayne said that “international opinion is clear” and is “now firmly behind the need for all entities with public debt or equity to respond to climate change issues”. The opinions – not facts – of a small cadre of unelected internationalist bureaucrats should apparently decide if someone living in central Queensland gets to have a job.

This is precisely the “negative globalism” that Prime Minister Scott Morrison criticised in a speech to the Lowy Institute earlier this year.

Read the whole thing (ungated version here).

It is going to be interesting watching Heyne’s response. This is probably the first time decades that anything he has said has been criticised like that. Many judges seem to come to the view that they are moral-philosopher kings and not just bureaucrats whose opinions are enforced by men with guns.

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23 Responses to Wild mauling for Hayne

  1. thefrollickingmole

    That is a good litte article

    I predict it will be ignored by the rest of the media.

  2. Roger

    Many judges seem to come to the view that they are moral-philosopher kings and not just bureaucrats whose opinions are enforced by men with guns.

    Great line…and so true.

  3. tombell

    the real problem is that even if you had an elected government committed to sane energy policies ( and we don’t in Oz whatever honeyed words flow ScoMo’s way) the bureaucracy is an immovable Leftard bastion of woke thought. No sensible policy could ever, in fact, be implemented. It would be sabotaged from day one. (as a slightly off point segue, look how the DOJ in the USA has, to date, conveniently found reasons why no Democrat/sympathiser should be prosecuted .) It’s depressing.

  4. Not Impressed

    His refusal to chake hands with the PM spoke volumes …

  5. Pyrmonter

    What Hayne, and those who would have separate entities, especially central banks, ‘address climate change’ miss is the need to co-ordinate action to avoid counter-productive gestures. If only someone had pointed out the socialist calculation problem before, and pointed out how markets solve them. (A tip – next year is the centenary of https://mises.org/library/economic-calculation-socialist-commonwealth)

  6. Colonel Crispin Berka

    My understanding of “globalism” is that it is the logical extension of free market principles on the movement of capital applied to international trade. This would imply that some job offshoring examples can be correctly blamed on globalism and that many more examples that were incorrectly blamed on globalism are due to tariffs / sanctions / subsidies that are the opposite of globalism.

    The rebellion against globalism is a switch from “capital is king” to “labour is king”. The purpose of the free market economy is to provide for the most urgent needs of the consumers. It is not the purpose of the economy to give any workers jobs, let alone jobs in a specific location. The rebellion against globalism is the adoption of a Marxist style entitlement mentality for workers, in which the purpose of the economy becomes giving each person an equal opportunity to “develop their faculties” and work at their own chosen job as much or as little as they desire, as Marx put it.

    There is a tension between goals and methods in this analysis. To oppose the end result of globalism as I have defined it (and as you all seem to talk about it) is to endorse the same end result of point 4 of the Communist Manifesto:

    4. Confiscation of the property of all emigrants and rebels.

    Preventing a company from moving its factory offshore by expropriating the money and factory certainly sounds like a “confiscation of the property of all emigrants”. There have not been any proposals to expropriate the big manufacturers, rather the trend has been offering favourable tax treatment for companies that stay. Conservatives and the economic alt-right have preferred to expropriate less of the company than usual to encourage them to voluntarily stay. So is anti-globalism Marxist because it advocates the same goal as Marx, or is it non-Marxist because it advocates a different method of getting there?

  7. Sunni Bakchat

    Just when it looked as though the AFR had filled every column inch with pro-climate change dross, along comes this little gem from the IPA.

    Hayne has a newly acquired taste for not only his own munificent opinion but stardom in general. His comments to the generic left wing group-think collective has brought out his inner Marcuse.

    Given Hayne’s one of the sharpest tools in the box, one wonders how politics can intervene so forcefully in one’s thinking process to derive such an illogical conclusion. Do we have the heir to William Deane’s judicial activism on our hands?

    To the extent Hayne isn’t completely stuffed already, he can get further stuffed.

  8. sabena

    Is Hayne’s opinion shared by his wife?(Gordon J on the High Court).

  9. Elderly White Man From Skipton

    Sweet Sinclair. Clearly hasn’t had much to do with Ken Hayne, who gives not a fig.
    Pointer: his target is not the great unwashed. But those who sit in the big chairs. You can be thoroughly assured that the directors of companies are most definitely acquiring both belt and braces cover for any liability of the kind Hayne suggests. In that sense, it is game over.

  10. jupes

    Daniel Wild tears Kenneth Hayne a new one this morning:

    Indeed he does. Excellent article from Wild. Absolute gold.

    Bolta has Daniel Wild on his show once a week, pitted against some Labor trollop whose name eludes me at the minute. While Bolta is kind and usually protects the trollop to some degree, Wild destroys her with facts. Bam!

    I reckon he is Bolta’s best regular guest. Clued-up and articulate.

  11. Boambee John

    Elderly White Man From Skipton
    #3257097, posted on December 10, 2019 at 12:12 pm
    Sweet Sinclair. Clearly hasn’t had much to do with Ken Hayne, who gives not a fig.
    Pointer: his target is not the great unwashed. But those who sit in the big chairs. You can be thoroughly assured that the directors of companies are most definitely acquiring both belt and braces cover for any liability of the kind Hayne suggests. In that sense, it is game over.

    So, having excoriated the banks for their actual misdeeds, Hayne is now using the (im)moral authority of his task as Banking RC to “encourage” not just banks, but other large businesses as well, to waste shareholders funds on actions that will have no practical effect on tbe climate, but will ensure that his wife is still welcome at the tennis club, and they both continue to receive invitations to the fashionable social occasions?

  12. Mark M

    That Haynes would support anything like this is all you need to know about Haynes …

    Carbon offsets have patchy human rights record. Now UN talks erode safeguards-

    https://climatechangenews.com/2019/12/09/carbon-offsets-patchy-human-rights-record-now-un-talks-erode-safeguards/

    “Rules proposed to protect communities from carbon-cutting projects have been eroded at UN climate talks, raising fears human rights abuses under the previous system will be repeated.”

    Go Climate Neutral Now!
    United Nations online platform for voluntary cancellation of certified emission reductions (CERs)

    Looking for a perfect last-minute Christmas gift?
    Offset the recipient’s carbon footprint by supporting UN projects:
    https://offset.climateneutralnow.org

  13. MACK

    “Hayne appears to believe climate risk should be considered a fiduciary duty for company directors”
    OK with me – I’ve read the science in detail and my formal assessment is that there is no appreciable risk. I’m happy to write it all down, with acknowledgment to Judith Curry and Bjorn Lomborg, as well as references to the scientific literature:
    https://notrickszone.com/skeptic-papers-2019-3/

  14. Falsified temperature records, urban heat island effect, svensmark effect…

    …and no “mitigation” passes any honest CBA.

    Hayne is a silly arts graduate talking about stuff he doesn’t understand.

    International opinion…may be that child abuse or imperialism and genocide are good things.

    He’d actually support terra nullius and slavery, because majority rule at the time.

  15. If he is a lefty (ie socialist) is that why he was easy on Gillard, Shorten and has not referred Kimberley Kitching for perjury at TURC. Hayne found Gillard and Kitching had not told the truth and put this in the commission report. Hayne should have referred them to the public prosecutor.

  16. Squirrel

    This episode is yet another reminder of the enduring wisdom of this gem-like work from 30 years back –

    https://books.google.com.au/books?id=WVDgdh2hfNcC&pg=PR19#v=onepage&q&f=false

    I am particularly drawn to the idea of “lawyers as negative externalities” and “evidence of slower GNP growth with more lawyers” – a government scratching its collective head over the slowing of the miracle economy might look into this. IPA might give it some attention, too – even if it does ruffle some very well-connected feathers.

  17. miltonf

    When did Hayne last study any real science? Back at Scotch in the 60s?

  18. miltonf

    The legal profession creates no wealth. Quite often the opposite.

  19. The legal profession creates no wealth. Quite often the opposite.

    They are modern day tax farmers and the west has been ruled by a semi-hereditary aristocracy of lawtradespeople since Henry VIII’s decline in physical and mental health.

  20. miltonf

    Only back to Henry VIII? I thought the legal profession was a hang over from the Norman imposition of the feudal system on the English after 1066.

  21. miltonf

    Fascinates me how many of these leftists attended exclusive schools.

  22. Gedaminis the Great

    Milton’s
    “Lefties attending exclusive schools”

    Good point.; I could not understand how the aspirational Australian send their children to a expensive English school, attend university ( do law or accounting) and think the epitome of intellectualism is to convert to communism.
    Wong went to Scotch in Adders, while her fellow Catholic defectors were Rudd and Shorten.

    Me thinks it’s a “chip on the shoulder” and it’s easy to shit on Catholics in Oz (cowardly to me.

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