Tuesday, May 26, 2009

RBA offshoot spends $10 million on "translation services"!

Here's the latest from today's Age.

Commentator Andos asked what I thought.

The Age stuff seems solid.

Just as this will be viewed through the prism of the AWB (and should be, based on what we know so far), the Reserve Bank will be reacting through that prism.

AWB Limited bore something close to the ultimate cost for ignoring advice it commissioned from Peter Sandman.

He advised it to fess up straight away and take the public into its confidence.

The RBA shouldn't hire Sandman - he is too expensive, even by the standards of a $10 million Vietnamese translator - but it should read his website. It is full the right advice about what to do.

Even politicians take notice of him (when things turn bad).