He resigned over misleading an anti-corruption inquiry about accepting a secret $3,000 gift from the CEO of Eddie Obeid's water company, but sure let's call it "a bottle of wine"
It's worth reading O'Farrell's *extremely emphatic* denial about this event just three years earlier when you think about what "misleading the inquiry" means in that sentence. Apparently his memory was just a bit patchy.
Apparently Barry O'Farrell is a wonderful gossip and great fun with reporters and so the general consensus is the whole thing was a harmless muddle.

On the other hand, it's a good idea for journalists to just state the facts, even when they don't look great for people they like.
I'm not making any comment on Gladys here. To be honest I haven't followed the twists and turns of that case closely enough to have a strong view. But the case for O'Farrell resigning was open-and-shut.

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More from @davidfickling

13 Oct
How is it that New Zealand is pulling off an election amid pandemic with aplomb, while the U.S. is on the brink of chaos?

I can see a few simple fixes and a deep fundamental problem:
bloomberg.com/opinion/articl…
One issue is that America, paradoxically, has *too much democracy*.

The constitution puts states in charge of running elections, and almost everywhere that means elected officials are the umpires of the electoral process.

They have an obvious conflict of interest.
In New Zealand, as with most democracies other than the U.S., elections are run by an independent national commission controlled by independent, non-partisan bureaucrats.
Read 12 tweets
28 Sep
I think some people are a bit confused about how the shell game works in this great piece of @nytimes reporting on the Trump Organization, so here's a quick model that will hopefully clarify it a bit:

nytimes.com/interactive/20…
@nytimes Imagine a real estate business, let's call it Prumt Tower. It's worth $80 million, and purchase was financed with a 70% loan and 30% equity:
@nytimes Here's one ordinary way you could run that business:
Read 21 tweets
22 Sep
I just got an email pitch about how Venezuela is narrowing its budget deficit and whether this is a model for other emerging markets to emulate.

I can think of easier ways to get your budget in balance than economic collapse followed by being locked out of global bond markets.
It's strangely easy to stop the government spending more than it receives in tax revenues when the government can't borrow money!
But it's probably easier to just, I dunno, change the indexation rules on public pension payments.
Read 4 tweets
22 Sep
It's possible that some of the most important news about the future of the global climate came out last week without most people noticing.

Quick thread to explain why:

bloomberg.com/opinion/articl…
What China does over the next five years will have by far the biggest impact on our ability to live within the world's carbon budget.

China's greenhouse emissions are now greater than those of Europe and the U.S. put together. Image
That's worrying because while coal, the dirtiest fuel, is dying a rapid death in Europe and the U.S., it still receives a great deal of political support and subsidy in China:

bloomberg.com/opinion/articl…

The policies set this year for the 14th five-year plan will run through 2025.
Read 11 tweets
21 Sep
Reading my mentions after writing about oat milk I think I've finally found a topic on which there is absolutely zero middle ground. 😮
I say this as someone who has published articles on the subject of Vegemite!
bloomberg.com/opinion/articl…
While we're at it, Starship Troopers is neither a terrible nor amazing film, it's just sort of meh.
Read 4 tweets
20 Sep
If Australia wants to subsidize its mining, farming and packaging sectors, maybe it should just do that, instead of spending bajillions on boondoggle gas infrastructure whose main function will be to give those sectors under-priced raw materials?
I like ammonia and olefins as much as the next person but there's a global market for this stuff, you don't need to build a government-funded fantasy domestic gas industry to get hold of it.
I realise we're all meant to pretend that building a couple of gas storage tanks at Wallumbilla will magically turn Australia into some South Korea-style heavy manufacturing hub.
Read 5 tweets

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