Nick Sherry (Tasmania, Australian Labor Party, Minister for Superannuation and Corporate Law) Share this | Hansard source

Unfortunately, in these uncertain times the Liberal opposition have lost complete control of their response to these financial conditions. Yesterday we saw the appalling situation and display of the Leader of the Opposition and the shadow Treasurer attacking the independent market regulator, ASIC. The Liberal opposition, when in government, created the independent regulator; they gave it its powers of independence; they created and appointed the three independent commissioners. Here we have the Liberal opposition attacking a creation of their own and attacking commissioners that they appointed. ASIC is an independent regulator that has responded appropriately in the current situation.