Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

The only hapless persons are those on the opposite side of this chamber because a disorderly deleveraging process could force many commercial property projects to sell their assets immediately at whatever price can be obtained—in other words, a fire sale. Such a fire sale could destabilise the entire commercial property sector and create a vicious cycle where falling prices trigger further fire sales. That is what those opposite are advocating. ‘What justification?’ Senator Coonan asks. I could draw on the Goldman Sachs analyst report which pointed out that banks are at their limit of exposure. Goldman Sachs is a very appropriate one to point to. I have a question for Goldman Sachs: how much did Goldman Sachs pay to settle Malcolm Turnbull’s deceitful behaviour around HIH?