Hot air, puffery and the Future of Financial Advice (FoFA) laws

On Monday, Clive Palmer who is making the volt farce an art form said:

“What we said, the FoFA laws as they currently are tabled, we don’t agree with them, right, and I don’t think that’s changed at this stage.”

By Tuesday, he had changed his mind completely and supported the government legislation in the Senate.

There is an emerging pattern with Palmer. He gains maximum publicity and media exposure by threatening to oppose government legislation in the Senate. But when push comes to shove, he capitulates to government pressure. One wonders how long PUP senators will continue being lapdogs.

PUP senators awaiting instructions

PUP senators awaiting instructions

This is the man who was on national television promising to protect little ladies rights to coffee and chocolates but who has now walked away from legislation that would have protected the same little old ladies from the predations of the parasites lurking in the bowels of the big banks.

Clive Palmer, provider of coffee and chocolates. Pity about financial advice protections

Clive Palmer, provider of coffee and chocolates. Pity about financial advice protections

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