Many of you would remember Allan Fels. This was a man who was head of the ACCC for many years. Fels was known for his tough stance against corruption especially that perpetrated by the Big End of Town on all of us. He regulated like it should be done. Banks were scared of him. Crooked stockbrokers were scared of him. What has happened since he left?
Now our regulators get headed by investment bankers. They don't regulate. They keep the Big End of Town happy. They allow corruption. They ignore our complaints. What can be done? Could Allan Fels or someone like Allan Fels be appointed? Surely it would clean everything up. Why only one department? Why can't some politician appoint him as head of 3 or 4 departments to clean them all up?
It sounds impossible that someone could have that much responsibility but it has been done before. Sixty years ago in Burma (Myanmar) corruption was everywhere. At this time a man named Sayagyi U ba Khin became the first Accountant General of Burma just as Burma gained independence from England. U Ba Khin was less known than India's Mahatma Gandhi but just as important a figure.
U Ba Khin had seen the corruption in the General Accountants office while working there as a clerk. It was an accountants office, the corrupt public servants knew how much to skim off for themselves. After his promotion he wanted to cleanse the department of the corruption. He was extremely successful in doing this by making the following rules 1) No-one including staff could offer him any gifts. (One tenderer came to his house offering him money and he was shouted away). 2) All staff had to make a decision on every case which came to them within 24 hours. If a decision wasn't made within 24 hrs something suspicious was going on - they would be dismissed.
Can you imagine if ASIC staff had to make a decision on all of our complaints within 24 hours. I'm still waiting years after.
It became the talk of Burma that the Accountant General's office was no longer corrupt. The Prime Minister appointed him to Chair the Agricultural Board to work the same thing. The Prime Minister couldn't understand why there was so much rice being grown around the country due to the fertile land yet there was always a loss when exporting. Immediately there was a revolt in the Agricultural Department. The corrupt Executives who were siphoning out the profits convinced a lot of the upper management to strike along with them. U Ba Khin ignored the strike and continued to work in the offices along with the lower level clerks who were good people. Eventually the strikes ceased and some of the corrupt people changed their ways.
In the end the Prime Minister appointed Sayagyi U Ba Khin as head of four departments. It was an unheard of responsibility and it showed the exemplary life of someone who lived with integrity. This is like heading the ACCC, APRA, ASIC and the Foreign Investment Review Board. These are four deeply corrupt regulators. There is no difference between our situation in Australia now to Burma's situation 60 years ago. Can you imagine the benefits?
Let us hope some politician can appoint regulators who can also work honestly for the benefit of the people. It is long overdue in this country. It is also not an easy task as Allan Fels would tell anyone.
To hear what Allan Fels is up to since he left the ACCC here is a recent podcast where he answers these questions.
https://podbay.fm/p/andrew-leigh-mp-speeches-and-conversations/e/1569934033
Ben.pauley@gmail.com