Bob's blog - the realm of threalm

The long and the short of it It has been a curly week for the Australian Securities and Investments Commission . ASIC has made a right hash of a decision about what to do about short selling of securities quoted on Australian securities markets. Setting aside the content free dialogue that has been going on for over 6 months in the media; prompted by throw away remarks from our Federal Treasurer, Wayne Swan, about the Government's forever imminent legislative crack down on "short selling"; now that the Government and ASIC have had their hand forced by international attempts to act in a co-ordinated way to stabilise markets and reduce panic, ASIC stuffed it up. A brief chronology: Thursday, 18 September US Treasury Secretary Henry Paulson announces an $800 billion liquidity injection into the for the US financial system, in an attempt to restore confidence in the US banking system after the failure of Lehman Brothers, (amongst other stuff). Friday, 19 September, ASIC

Patrick Snowden , a dear friend, died of a brain tumour at the age of 47 on 5 September 2008. Jack Snowden, Pat's 16 year old son, Jeb Carroll and Pat's brother, Peter, each gave magnificent eulogies for Pat at his funeral service on the morning of 12 September 2008. This is the text of the brief remembrance I gave later that day at his wake, along with others, at the Longueville Pub in Sydney. PATRICK JOHN SNOWDEN Patrick was the truest of friends. Like many here today, Pat and Tracey have been an indelible part of the fabric of our family's life for decades. My wife, Susie, met the inseparable pair at Macquarie Uni Law School. Pat gave us the most valuable wedding gift conceivable: he passed up the opportunity to play for the 1988 Club Championship at Oatlands to attend our wedding; an act of self sacrifice in the interests of friendship that was typical of him, and for which we revere him. We have been on family holidays with the Snowdens , staying in the same apartm

Who's Judy Garland now ? Barack or Sarah ? Phew! And I thought the Democratic primary race was a blast. Following the hopeful innocent along the winding road with scruffy dogs, straw men and the heartless, whilst battling a wicked witch, to his ultimate nomination, became an almost undreamed of adventure for us rubes in the 'sphere. But now, incredibly, another Dorothy with ruby slippers has dropped out of the sky in a hurricane and rudely intruded on our dream. And it looks like she may have finally killed off that wicked witch too. You couldn't script this, even in Oz. But it is becoming a tad confusing. Who is the real Judy Garland now? This whole identity thing has become very messy, but what a spectacle to behold. It seems improbable now that the world could just go on supporting kindly grey haired old white guys hiding behind curtains. But who can predict anything anymore in populist politics. This US presidential election could just be the best Olympics ever! Roll on