Bill Shorten

Malcolm Turnbull and Bill Shorten do secret deal to conceal corruption during election campaign

There is a powerful prima facie case that points to Malcolm Turnbull and Bill Shorten doing a deal not to raise each other’s corrupt past during the election as well as the corrupt and criminal conduct of their respective political parties.

The obvious reason for the deal to conceal the corruption during the election is that any battle between each other based on corruption would decrease their votes and increase the votes for the minor parties and independents. It is disgusting that two leaders and two parties would do a deal to downplay the corruption issue but it is very obvious that they have done the deal.

It was only a few months ago that the Liberal Party were travelling full steam ahead to make an election issue out of Bill Shorten’s corrupt dealings when he was in the union movement. The Labor Party were also set to raise Malcolm Turnbull’s dodgy dealings with his mate and criminal Rodney Adler which brought down HIH and was Australia’s biggest corporate bankruptcy.

Malcolm Turnbull and HIH / FAI and why he won’t have a Royal Commission into the banks

HIH Insurance collapsed in 2001 losing an estimated $5.3 billion. One of the reasons often given for its collapse is that it bought another insurance company called FAI for $300 when it was actually worth nothing and losing money. Malcolm Turnbull at the time was the head of the Australian division of investment bank Goldman Sachs and was an advisor to FAI.

Most voters do not know but Malcolm Turnbull gave evidence in the witness stand at the HIH Royal Commission in 2002 and he was later sued personally in civil proceedings by the HIH liquidator McGrathNicol. The reason Turnbull was personally sued was because of his alleged dodgy conduct in his role as the managing director of the investment bank Goldman Sachs in advising FAI as it was taken over by HIH.

HIH collapse

HIH Insurance was Australia’s second largest insurance company. It was placed into provisional liquidation on 15 March 2001. The demise of HIH is considered to be the largest corporate collapse in Australia’s history, with liquidators estimating that HIH’s losses totalled up to $5.3 billion. Investigations into the cause of the collapse have led to conviction and imprisonment of a handful of members of HIH management on various charges relating to fraud.

The liquidator “attributed the HIH company failures to rapid expansion, unsupervised delegation of authority, extensive and complex reinsurance arrangements, under pricing, reserve problems, false reports, reckless management, incompetence, fraud, greed, and self–dealing.” (Click here to read more)

Turnbull’s role in helping his mate Rodney Adler

In 1997 Malcolm Turnbull was advising FAI CEO and major shareholder Rodney Adler about the possibility of privatising FAI with the help of Goldman Sachs. For some reason Goldman Sachs pulled out of the deal which was probably because they realised that FAI was nearly broke.

In 1998 FAI received a takeover offer from HIH and Goldman Sachs (Malcolm Turnbull) advised the FAI directors on the sale. But Turnbull did not tell FAI directors that Goldman Sachs had pulled out of the deal with Rodney Adler to buy FAI a few months earlier which Turnbull had an obligation to do. Turnbull said he thought Rodney Adler had told them so he didn’t bother.

Rodney Adler ended up doing jail time (2005-2007) and maybe Malcolm Turnbull should have as well.

The civil lawsuit against Malcolm Turnbull was settled out of court for an undisclosed amount.

I suspect the HIH / FAI matter would have to be a major reason why Mr Turnbull does not want to have a Royal Commission into the banks. If there is a Royal Commission into the banks there might be a chance that Malcolm Turnbull will be back in the witness stand like he was at the HIH Royal Commission. Especially if the terms of reference are written by the Labor Party, Bill Shorten and the unions.

It would be a huge vote winner for the Labor Party if they focused on Malcolm Turnbull’s time at investment bank Goldman Sachs and his role in the HIH / FAI collapse and then linked it to the fact that he won’t have a Royal Commission into the banks. The problem for Labor is if they do that then it will break the deal they have with the Liberals and the Liberals will return fire and focus on Bill Shortens handiwork in the union movement.

Other corruption in Turnbull’s past that Labor should raise but won’t I have written about before in an article titled “Malcolm Turnbull the rain man who speaks with forked tongue.” which is worth a read if you haven’t already.

Bill Shorten’s union days as secretary of the Australian Workers Union (AWU) 

Using a dirt sheet on opponents during elections is the specialty of Bill Shorten and crew which includes Senator Stephen Conroy. Google Bill Shorten and dirt sheet and you will see what I mean. But in this election they don’t have to make up a dirt sheet because they have the truth of Turnbull’s past to throw at him but have so far refused to do so. The reason is Bill Shorten has so many skeleton in his closet it makes it impossible for Labor to attack Turnbull and the Liberals on corruption issues during the election so they cut a deal.

Bill Shorten’s corrupt past was exposed extensively during the Trade Union Royal Commission and the fact the Liberals haven’t used this to their benefit during the campaign says plenty. Add that to the fact that the Labor Party haven’t raised Malcolm Turnbull’s past and it is obvious that a deal has been done between Malcolm Turnbull and Bill Shorten.

Also have a look at all the corruption over the last few weeks by members of the Liberal Party and Labor Party that has barely been mentioned by both parties. The Labor Party had a staffer charged by police last week and have had another (former NSW ALP boss Jamie Clements) charged this week by the NSW Electoral Commission yet the Liberal Party have not even raised it to my knowledge. Maybe it has something to do with the fact that Liberal MP Stuart Robert has been busy corruptly stacking the Gold Coast council with Liberals while he is under investigation by the Federal police for another matter.

Shutting their mouths while ignoring corruption and hoping the voters don’t notice won’t help the Liberal/National Party and Labor Party. A quick look at social media says corruption is a major issue for voters and I suspect we are going to end up with a record number of independent MP’s and Senators unless the major parties change their attitudes fast if it’s not already too late.

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15 replies »

  1. Australians have a great deal of gall in lampooning Donald Trump when he’s no match for our home grown silver tongued devils.

    Serial adulterer, union sellout, and alleged rapist on behalf of Labor and alleged fraudster Turnbull dirty from HIH and his payday from ozemail, $56.5 million if you don’t mind for the Libs.

    And how close was he to the Alpine Offset windfall, given that mates Adler from HIH and Howard from Ozemail were shareholders in that doomed but very profitable venture?

    The only way forward for the country would be if both lost their seats at the next election. Now that would be a Social Media campaign worth backing!!!

    • Two suggestions for candidates. Phil Cleary could have a good chance to knock off Shorten after all he did hold the seat of Wills as an Independent and could do it again with a strong support base. and Dick Smith could knock off Turnbull

  2. Politicians are only interested in saving their own jobs. They do not care for the people. Just saving their own skins, their own paydays and themselves. No wonder we have very little faith in anything they say. I have zero confidence in any level of government to do right by the people. They all feather their own nests. Flipping crooks.
    But a full blown Royal Commission into the banks? I am waiting eagerly for that event.

  3. Turnbull? Goldman Sachs? Adler? Am I committing the sin of noticing? Adler seems to be doing OK, hanging out with Pope Francis and the truly awful Shmuley Boteach. Some get punished and some appear to get punished.

  4. It’s all methodically laid out in Paddy Manning’s Turnbull bio. Truly astounding he didn’t go to jail with Adler and Ray Williams, but Commisioner Owen had his two scalps in the bag by then, and some pathetic cross examination by by Norman O’Brien’s obviously intimidated female junior (O’Brien and Malcolm knew each other at Oxford, you know) meant that Turnbull dominated.

  5. It gets worse – Malcolm and Lucy Turnbull formed a partnership with Rodney Adler (no relation) at the time in a venture capital firm called KHATZ Capital Ltd. The company was deregistered just before MT stood for Liberal preselection – but not before I did and kept a search of the company records with ASIC.

    • The Khatz whisper

      It looks as though high-profile venture capital fund Khatz Capital is finally going to get some return on its investment in former glamour stock, CommSoft.

      Khatz was formed by Trevor Kennedy, Sean Howard, Rodney Adler, Malcolm Turnbull and Jeff Zulman in March 2000 to invest in technology companies, primarily using the squillions that Kennedy, Howard and Turnbull had made out of Ozemail. Adler resigned as a director last year but they needed his vowel.

      Click here to read more:

  6. With any sort of luck this long winded election ploy by the big two will drive home to the man in the street just how badly corrupted our political system has become. We need to take back our country from party politicians and return democratic parliamentary control to independents.

  7. I have always admired Dick Smith for his honest attitude and his interviews are always warts and all, unlike MT. who tends to guild the Lilly and a smile that hides a million secrets I would back Dick Smith against Turnbull any day.The alleged meeting between Shorten and Turnbull is no surprise, like little school boys “you don’t tell on me and I won’t tell on you.”The election will be won by the one who they believe,or the best liar.GRUMPY OLD MAN. Here here!
    Allan Usherwood from Myalup.WA

  8. Turnbull is a busy man. In 1994 he bought 500k worth of OzEmail stock. In 1997 he became chairman and in 1999 he sold his stock for 57 million dollars to Bennard Ebbers, founder of WorldCom.

    In 2001 Ebbers was indicted and in 2005 was sentenced to 25 years for fraud pertaining to unaccounted money during the period of the OzEmail acquisition.

    The ALP were also very busy. Kevin Rudd was busy allocating tens of billions to European owned firms to
    construct tunnels and bridges in Queensland. Meanwhile his wife had a new start up business selling advice to unemployed euro citizens. Despite never having owned or run a company before, Mrs Rudd made billions (not millions) in a few short years by providing services to euro governments.

    The corruption is open and it is bipartisan.

    If Australia were run as a real nation under the rule of law, like Switzerland, both houses would be indicted and prosecuted enmasse.

    Now go vote for these elites, because it is a prosecutable offence not to show your support for their behaviour.

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