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Bank Bail in will be fixed - 2SM with Marcus Paul - YouTube
Channel: Malcolm Roberts
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all right welcome back to the program uh
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on this
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thursday december 3 where it's 22
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minutes away from eight o'clock new
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south wales daylight saving time
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and senator malcolm roberts joins us on
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the program g'day malcolm
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good morning marcus how are you i'm okay
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i i think you'd still be disappointed
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with the bank bail-in voted down
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this week uh yeah i know you've done a
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lot of work on it
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yes we we were disappointed but we're
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expecting to get it have it defeated
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we were mildly hoping the labour party
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would wake up but they abandoned their
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core
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but what has been very good marcus is
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that as a result of
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my speech and as a result of the work
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the one of the liberals came up to me
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later and he organized a
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meeting with me and our staff and
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himself and the uh a senior advisor from
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the
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treasury treasurer's department and um
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they now acknowledge
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that there is a problem and that they
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have promised to remedy it so
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it looks like it'll be taken care of
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anyway thanks to the effort we've done
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all right just remind my listeners what
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this all about
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is all about what is the bail-in
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let's talk about a bailout first a
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bailout is when a bank gets into trouble
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and the government
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gives it taxpayer money so basically a
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bailout is where the taxpayer money goes
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from the taxpayer through the government
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to the banks save the banks
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even though the taxpayers didn't cause
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the damage bail in
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is where the bank takes the
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depositors money and converts it into
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shares so they get their money
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to they get the uh depositors money and
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get out of trouble and in
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exchange the depositors get worthless
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pieces of paper call shares
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because the bank is so close to collapse
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it won't won't be any value
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so then that means that the the
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depositors have a worthless piece of
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paper
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uh or they can hang on for a few years
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and hope that the bank comes back which
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it probably will in our system but
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uh a bailing takes money steals money
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from the depositors at the bank
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all right and you're hopeful that
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eventually uh after further discussions
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even though it was voted down earlier
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this week you're hopeful that you will
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get this passed
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well not not passed but modified by the
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government okay itself so it'll take
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care of it so either we'll get
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the corrections that we wanted the
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modifications we wanted in the
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government's bill so that there's no
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bail in
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or if there is a bail-in uh possibility
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then at least it'll be honestly
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portrayed
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and so everyone can make up their own
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mind what to do but we think
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a bailin would be better ruled out
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because
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it then instills confidence in the banks
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we've had something like 20 billion
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dollars in notes go disappearing in the
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last uh
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12 months because people are scared of
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what will happen
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to their cash if this if if there is a
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balance because they've had violence in
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greece in other countries
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we see this as a magnificent opportunity
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to clarify
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and to make it very very clear to people
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what what
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what is happening all right you want
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more of us to drink
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australian wine yeah
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um i didn't know uh if you knew it but
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thirty percent of our wine export goes
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to china
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well used to the that's double the uk
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uh double the uk double the us yeah but
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um an inter parliamentary alliance uh
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on china uh their friends and
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parliamentarians
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and parliaments and congresses around
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the world showed support for
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uh for australia and they they're really
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annoyed with the bullying
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of china against australia so um we
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actually
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uh saw a video that was made up of
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people from japan parliamentarians from
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japan who said you know we like our sake
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better mate but
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rosie wine go and buy a bottle of aussie
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wine and then then the italian thing
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we're the number one wine exporters in
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the world and we make the best wine
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but go and get a bottle of aussie wine
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um so we're encouraging australians to
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go and
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and spend a bit more time in the wine
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wine rows and
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liquor store and get stuck into some
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aussie wine and
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show the chinese that uh we will carry
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on regardless of their threats
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that's right there's no 212 tariffs here
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at home with our domestic wine i mean we
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know that
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wine the sector itself valued at 4
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billion in september 2020 before these
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ridiculous over-inflated tariffs were
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imposed
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maybe we can i know we export around 15
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and 14 respectively to the united
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kingdom and to the united states
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about wine products maybe we get up
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their share of exports and
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not worry too much about china exactly
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and i think this is a problem with we
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that's coming home to roost marcus we've
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gone to china because it's the easy way
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out
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we haven't done the hard yards in this
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country of fixing the tax system
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reducing our energy cost we've instead
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inflated our energy costs we've doubled
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in some places triple their electricity
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cost for example
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instead of doing the hard yards of
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fixing that energy sector and stopping
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the
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the rot on climate and the subsidies and
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instead of fixing the taxation system to
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make manufacturing more competitive
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we have taken an easy way out and just
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exported iron order china coal to china
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uh raw materials to china agricultural
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products to china and just bought
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whatever we can from china
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very lazy way we've destroyed our
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manufacturing let china supply it
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and we've got to stop that we've got to
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rebuild this country
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bring it back to basics you're not still
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betting on a trump when are you
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oh yes definitely oh definitely malcolm
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you still haven't woken up no no that
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the fact that coming in now there's
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clear corruption markets um
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and and uh i think that trump has
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recognized this
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in fact one of the republicans said that
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we know there's been corruption from the
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democrats especially for many many years
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and trump um to his credit has uh
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has set set the um the eyes in motion
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and
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the monitors in motion and now it's all
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coming home to roost for the democrats
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there's serious corruption out there
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and uh there is a path to trump for
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trump to the white house
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he's definitely in yeah not till 2024
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though
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no no it would be this year you watch
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this year
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so much corruption going on all right
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the the constitution and the laws in
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america provide for
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this kind of circumstance and trump said
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trump is in the box seat he knows what
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he's doing
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all right you want to bet me a bottle of
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wine on this i don't think
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they do i definitely do all right
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now the australian federal integrity
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commission you know that toothless tiger
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that's been suggested uh the center for
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public integrity called a press
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conference to highlight the extensive
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inadequacies of the government's draft
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commonwealth integrity commission bill
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2020
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there were plenty of people present
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including uh previous
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members of the high court former judges
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from the victorian court of appeal
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and a former judge of the new south
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wales court of appeal
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now helen haynes mp has introduced a
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better version
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the australian federal integrity
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commission bill 2020
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uh what do you say to this we actually
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like helen haynes's uh
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um version much better we've had a
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couple of presentations on it we
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listened to helen herself came over to
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pauline's office
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and i joined them yeah um it's quite
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good the
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uh the australian center for public
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integrity
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uh endorses it and the government's bill
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is a shocker it's just a lazy in lazy uh
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well it doesn't even work properly
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because politicians are treated
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differently from everyone else and
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treated far too softly
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and and that's that you know that that
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that's the worst thing you can do
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to restore public confidence in the
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integrity in parliament the second thing
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is that the
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public that the government's bill has a
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proposal has a lower
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as a very high threshold for a referral
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you have to be
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have a lot of evidence there before you
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can even get through
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and the third thing is that the attorney
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general has power to limit information
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that
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that can be considered by the um
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corruption commission well as i said
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it's toothless
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yes that basically if they can hide they
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can still hide and the other thing
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marcus is
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it's not retrospective meaning that uh
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it won't
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we won't be able to investigate any of
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the past um dodgy dealings
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well that's right and uh you know we may
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never know
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why the government thought it was a
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great idea or
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a great investment to you know overspend
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on land at badgery's creek airport and
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the rest of it
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malcolm i'll have to leave it there
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today but thank you very much mate we'll
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catch up with you again next week
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i'll look forward to drinking your wine
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he's still in la la land over there all
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right mate good on you we'll talk soon
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all right there he is senator malcolm
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roberts
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