Dutton purchased bank shares day before GFC bailout: report
By Olivia Ireland
Workplace Minister Murray Watt has questioned Opposition Leader Peter Dutton’s share purchases in the depths of the global financial crisis when he bought bank stocks at low prices.
Declarations to parliament reveal Dutton bought shares involving the big banks the day before Labor announced a bailout in 2009, News.com.au reports.
Speaking this morning in Canberra, Watt said the article raises significant questions about Dutton’s conduct during the GFC when he was shadow minister for finance, competition policy and deregulation.
“This is a guy who had no real history of trading in bank shares, but he entered into an absolute frenzy of buying and selling bank shares over a very small period of time that just happened to coincide with the time that the Rudd government was planning and delivering multi-billion dollar bank bailouts,” Watt said
“I think it is highly unusual that we see a senior member of the opposition at the time who has no history of buying and selling bank shares, all of a sudden take a great interest on the day of a record low share value and the day before a large bailout is announced by the government that only a small number of people know about.”
Watt said it was up to Peter Dutton to explain what happened to the Australian people.
“Is this some really incredible coincidence, or is there something more to it?”
By Olivia Ireland
Workplace Minister Murray Watt has questioned Opposition Leader Peter Dutton’s share purchases in the depths of the global financial crisis when he bought bank stocks at low prices.
Declarations to parliament reveal Dutton bought shares involving the big banks the day before Labor announced a bailout in 2009, News.com.au reports.
Speaking this morning in Canberra, Watt said the article raises significant questions about Dutton’s conduct during the GFC when he was shadow minister for finance, competition policy and deregulation.
“This is a guy who had no real history of trading in bank shares, but he entered into an absolute frenzy of buying and selling bank shares over a very small period of time that just happened to coincide with the time that the Rudd government was planning and delivering multi-billion dollar bank bailouts,” Watt said
“I think it is highly unusual that we see a senior member of the opposition at the time who has no history of buying and selling bank shares, all of a sudden take a great interest on the day of a record low share value and the day before a large bailout is announced by the government that only a small number of people know about.”
Watt said it was up to Peter Dutton to explain what happened to the Australian people.
“Is this some really incredible coincidence, or is there something more to it?”
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