The recent reaction by the Australian politicians toward the proposed merger between the Singapore Stock exchange (SGX) and the Australia Stock Exchange (ASX) is a typical example of a bigotry culture in this country.
The very minute the news of SGX’s intention to merge with ASX was leaked to the public arena, our politicians begin to jump up and down against the idea without even trying to find out in detail the rationale of the proposed merger, and the possible benefits to Australia. Their responses are so pathetically predictable in a habitually hysterical manner.
Response from the Australian “Elites” in the absence of any detail information about the Merger
Despite the fact that the Treasury Department has yet to receive any submissions from either the SGX or the ASX of the proposed deal (The Australian, 26 Oct 2010, 1:34PM), the Green Senator Bob Brown begin to “links Singapore Human Rights to the Australia Stock Exchange merger proposal” (The Australian, 26 Oct 2010, 12:34PM), The Coalition Shadow Treasury Joe Hockey questioned “whether ASX merger is in Australia’s interest” (The Australian, 26 Oct 2010, 9:28AM).… Read the rest