Senate debates

Thursday, 16 October 2008

FINANCIAL SYSTEM LEGISLATION AMENDMENT (FINANCIAL CLAIMS SCHEME AND OTHER MEASURES) BILL 2008; Financial Claims Scheme (ADIS) Levy Bill 2008; FINANCIAL CLAIMS SCHEME (GENERAL INSURERS) LEVY BILL 2008

In Committee

11:44 am

Photo of Bob BrownBob Brown (Tasmania, Australian Greens) Share this | Hansard source

I wonder if the minister could tell us what one to two per cent exposure is in real terms. I note that Citigroup analyst Craig Williams says that for the four big banks the exposure to the credit default swaps is some tens of billions of dollars. I wonder if that aligns with the minister’s estimate. And I ask this question in this splendid chamber: is there a senator here who believes that there are executives who are worth more than 10 times the base wage of the Prime Minister of this country?

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