Is it insider trading if the Guvmnt does it?

Well it was fun watching Senator Conroy stick his garlic smeered stilletoe into the back of Telstra last night. And out gushed the blood or I should say share price, which dived when the market realised that Telstra was becoming less of a cash cow.

Not that the policy in itself is wrong as lets face it Telstra got away with blue murder for just under 20 years. Although it is interesting it happened after Sol left with all his dirty money.

More importantl;y though is the question of why did the government dispose of over $2 billion of shares last month? It is innocent in the extreme to assume that the Ruddbot’s little helpers were not aware that this policy was going to be put into place this month, the release of which was bound to negatively effect Telstra’s share price.

Besides that particularly dirty piece of political arrangement, it is not unreasonable to assume that the mockers are being put on Telstra so that the cost of the Boy Kevins national broadband project will cost slightly less (by using telstra’s existing infrastructure). The full plan for which and clearer costings of, are still no nearer to being published.

But having spent so much already on his stimulus packages Kev’s got to find some savings somewhere. however unless something pretty nasty happens he’ll win the election next year and that’ll mean us having to suffer him making his insincere and basically embrassing pronouncements for a good while yet.

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One Response to “Is it insider trading if the Guvmnt does it?”

  1. Therbs Says:

    That big Telstra sell off smells. That smell would be Insider Trading and I reckon those who did it should be put in the dock and made to answer a lot of difficult questions. Its a disgrace and points to the lack of bitey bits showing in the mouth of the regulators. ASX Regulators, ASIC, anyone there? Helloooo? Yoo hoo! Sorry to bother you but there’s this tiny little problem’s cropped up ….

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